Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of 3M Company (NYSE: MMM) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of 3M Company (NYSE: MMM) concerning whether a series of statements by 3M Company regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 25, 2019, the Company revealed its financial and operating results for the first quarter of 2019, which fell considerably short of market expectations. 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. In addition the Company revealed 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.
Following this news, NYSE: MMM fell $28.36 per share, or 12.95%, to close at $190.72 per share on April 25, 2019.
Based in St. Paul, Minnesota, and founded in 1902 3M Company develops, manufactures, and markets various products worldwide.
If you purchased shares of 3M Company (NYSE: MMM) on or before April 25, 2019, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Materials are provided for informational purposes only and do not constitute legal advice. We are only licensed to practice law in Germany. We are neither licensed nor qualified to render advice on US Federal or State law.
Thieler Law Corp
2534 State Street - Suite 406,
San Diego, CA 92101
by
email: mail@thielerlaw.com
or
telephone at +1 (619) 377 - 4324
or
visit our website http://www.thielerlaw.com/
or
Facsimile: +1 (619) 785 – 3185
