Summary
3M Company (MMM) filed an 8-K on June 1, 2004, to disclose an important development in its ongoing antitrust litigation. The U.S. Department of Justice (DOJ) filed an amicus brief with the Supreme Court, recommending that the Court deny 3M's petition for review of a previous appellate court decision. This decision affirmed a jury verdict against 3M in an antitrust case initiated by LePage's in 1999. While the DOJ acknowledged flaws in the lower court's legal analysis, it suggested that further consideration by lower courts was warranted before the Supreme Court intervenes. This development is significant as it comes after numerous major companies filed briefs supporting 3M's petition. The Supreme Court is expected to rule on 3M's petition for review later in June, which will determine if the case proceeds to a full Supreme Court review.
Key Highlights
- 1The Justice Department filed an amicus brief recommending the Supreme Court deny 3M's petition for review.
- 2The case involves an antitrust lawsuit filed by LePage's in 1999, resulting in a jury verdict against 3M.
- 3The U.S. Court of Appeals for the Third Circuit had previously affirmed the jury verdict.
- 4The DOJ acknowledged potential flaws in the Third Circuit's legal analysis.
- 5Despite acknowledging flaws, the DOJ advised against immediate Supreme Court review, suggesting further lower court consideration.
- 6Major companies had previously filed amicus briefs in support of 3M's petition.
- 73M expects a decision from the Supreme Court on its petition later in June.