*NEWS*3M BREACHES U.S LAWS TO PAY $28.8M

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*NEWS*3M BREACHES U.S LAWS TO PAY $28.8M

 user 2006-08-30 at 12:03:00 pm Views: 81
  • #16350

    3M to pay $28.8 million settlement
    August 2006 — St Paul (MN): 3M has been given final approval to settle a class action antitrust lawsuit for $28.8 million.
    Meijer, the Mid-West grocery and general merchandise retailer, claimed that 3M breached American antitrust laws by attempting to monopolise the tape market.In 1999 an antitrust case issued a verdict against 3M, ruling in favour of LePage’s, a rival tape maker, to the sum of $68.4 million following claims that 3M used customer rebates illegally to secure a 90 percent share of the private label tape market.