Replies to post #545 on 3M Company (MMM)

[DewDiligence]

I'm a long-retired lawyer and I never understood the theory of 3M's maneuvering against the earplug litigation. That gambit certainly wouldn't have worked years ago.

A similar approach worked for Georgia Pacific, and the “Texas two-step” may end up working for JNJ. 3M would’ve been derelict if it had not tried to fence-ring the earplug liabilities, IMO.

p.s. I, too, lucked out on my Monsanto holding.

[bar1080]

"Judge penalizes 3M, bars it from shifting liability in earplug litigation"

"(Reuters) - A U.S. judge on Thursday barred 3M Co from trying to avoid liability for injuries current and former U.S. military members sustained from its allegedly defective earplugs by shifting blame to a subsidiary.

U.S. District Judge M. Casey Rodgers, the Pensacola, Florida-based judge tasked with overseeing nearly 250,000 cases over the combat earplugs, said 3M deserved the "harshest penalty" for its "bad faith" attempts to transfer the liability to a bankrupt unit."

https://finance.yahoo.com/news/u-judge-penalizes-3m-bars-233244902.html