Glancy Prongay & Murray LLP Announces Investigation on Behalf of 3M Company Investors
LOS ANGELES--(BUSINESS WIRE)--May 9, 2019--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of 3M Company (“3M” or the “Company”) (NYSE: MMM ) investors concerning the Company and its officers’ possible violations of federal securities laws.
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If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to email@example.com, or visit our website at www.glancylaw.com.
On April 25, 2019, 3M disclosed its first quarter 2019 financial and operating results, which fell considerably short of market expectations, 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. The Company 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. Moreover, the Company announced plans to cut 2,000 jobs worldwide due to a slower-than-expected 2019.
On this news, the Company’s share price fell $28.36 per share, more than 12%, to close at $190.72 per share on April 25, 2019, thereby injuring investors.
If you purchased 3M securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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CONTACT: Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley F. Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
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PUB: 05/09/2019 04:29 PM/DISC: 05/09/2019 04:29 PM