NEW YORK, Aug. 21, 2019 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of 3M Company ("3M") (MMM) breached their fiduciary duties to 3M and its shareholders. If you are a 3M shareholder, you may contact attorney Joe Pettigrew for additional information: 844-818-6982 or firstname.lastname@example.org.
Scott+Scott is investigating whether certain of 3M's directors made, or allowed 3M to make, false and/or misleading statements regarding: (1) the fact that the Company's most lucrative product offerings, chemicals known as per- and polyfluoroalkyl substances ("PFAS") are toxic; (2) 3M's decades-long history of suppressing and/or concealing negative internal evidence and/or damaging data about PFAS; and (3) 3M's exposure to legal liability from government actors and individuals around the country as a result of its knowledge and intentional concealment of the toxic harm caused by the use of PFAS.
On May 14, 2019, the State of New Jersey filed suit against 3M and other PFAS manufacturers alleging environmental and consumer fraud claims in connection with making and selling firefighting foam products for decades in New Jersey that contained toxic chemicals. Noting that nearly one in five New Jersey residents had received tap water that contained at least trace amounts of one of these chemicals, some of which have been linked to cancer, the lawsuit alleged that the companies knew that their firefighting foam posed a significant health threat. On May 29, 2019, the State of New Hampshire filed an additional two lawsuits against 3M and others for PFAS contamination. New Hampshire Attorney General Gordon MacDonald noted that PFAS contamination had been found in all ten New Hampshire counties, and noted that in towns like Merrimack and Portsmouth, the contamination had put hundreds of families on bottled water. A Barclays analyst report issued shortly thereafter noted that PFAS liability for 3M represented real risks to the Company, as 3M began updating its reserves for remediating plant sites with PFAS contamination in the wake of the lawsuits.
What You Can Do
If you are a 3M shareholder, you may have legal claims against 3M's directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or email@example.com.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.