3M Company (MMM)

[DewDiligence]

3M—Federal Appellate Court agrees to hear Aearo-bankruptcy case:

https://www.wsj.com/articles/3m-earns-appellate-review-of-earplug-units-bankruptcy-shield-11665682266

The Seventh U.S. Circuit Court of Appeals in Chicago on Wednesday granted Aearo’s petition requesting a direct review of the bankruptcy-court ruling, bypassing a federal-district court and putting the appeal on a faster track to resolution.

Aearo is the 3M wholly-owned subsidiary that made the earplugs in question and that recently filed for bankruptcy protection.

Please see #msg-169803125 for related info. The 30-40% probability I gave in that post (from 8/26/22) that 3M will ultimately prevail on this matter may be a little too low insofar as the Appellate Court’s willingness to allow 3M to bypass the Federal District Court is an encouraging sign.

3M is +5% as I’m typing.