U.S. Markets closed

Bronstein, Gewirtz & Grossman, LLC Announces Investigation of 3M Company (MMM)

NEW YORK, May 01, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of 3M Company (“3M” or the “Company”) (MMM). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/mmm

The investigation concerns whether 3M and certain of its officers and/or directors have violated federal securities laws.

On April 25, 2019, 3M reported its financial and operating results for the first quarter of 2019, which fell significantly short of market expectations.  3M announced a $548 million charge in the quarter to resolve current and future litigation, reflecting a reserve of $235 million for “certain environmental matters and litigation” and an additional $313 million to address current and expected coal mine dust lawsuits in Kentucky and West Virginia.  The Company also announced plans to cut 2,000 jobs worldwide as part of a restructuring due to a slower-than-expected 2019, and lowered its full-year earnings guidance to a range of $9.25 to $9.75 per share, compared to its prior outlook of $10.45 to $10.90 per share.  On this news, 3M’s stock price fell $28.36 per share, or 12.95%, to close at $190.72 per share on April 25, 2019.

If you are aware of any facts relating to this investigation, or purchased 3M shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/mmm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com