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3M loses antitrust case
Diversified manufacturer will take $85M charge to cover court decision against a Scotch Tape rebate.
March 26, 2003: 9:14 AM EST

NEW YORK (CNN/Money) - Diversified manufacturer 3M Co. said it is taking an $85 million charge related to the loss in a federal antitrust case involving its Scotch Tape product.

The case, brought by LePage's Inc., a transparent tape competitor, challenged a rebate program by 3M involving transparent tape and other products. The U.S. Court of Appeals for the Third Circuit Tuesday restored a 1999 jury verdict against 3M.

3M said it expects to appeal the case to the U.S. Supreme Court but will take the charge now to cover it for the potential payment. Shares of 3M (MMM: Research, Estimates), a component of the Dow Jones industrial average, gained $1.72 to $132.30 Tuesday.  Top of page


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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
© 2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices .