SAN FRANCISCO, Aug. 19, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds long-time shareholders of 3M Company (MMM) of the firm’s investigation of possible wrongdoing by the Company’s board of directors.
If you are a concerned long-term 3M shareholder or have information that may assist the firm’s investigation contact Hagens Berman:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
The firm’s investigation focuses on the Board’s oversight of 3M’s activities related to one of its most lucrative products – polyfluoroalkyl substances (“PFAS”), a man-made chemical now known to be toxic.
Evidence of PFAS’s toxicity, 3M’s knowledge, and efforts to conceal the dangers from regulators and local residents began to surface in February 2018, when Minnesota’s Attorney General released documents showing 3M’s decades-long history of suppressing negative information about PFAS. Since this time, the Company has had to shell out over $800 million in fines to the Minnesota AG, defend itself against numerous other State AG suits, and incur significant litigation-related charges all to shareholders’ detriment.
“We’re focused on whether 3M’s Board and its top executives prioritized profit over safety with respect to the Company’s PFA-related products,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding 3M should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email MMM@hbsslaw.com.
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Reed Kathrein, 510-725-3000