3M Ordered to Pay $68-Million Verdict
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From Bloomberg News
3M Co. must pay LePage’s Inc. $68 million after a U.S. appeals court reinstated a jury verdict that the consumer products company illegally monopolized sales of Scotch tape.
The U.S. 3rd Circuit Court of Appeals ruled that 3M used a variety of rebates and discounts to “squeeze out” LePage’s from the market for transparent tape.
Shares of St. Paul, Minn.-based 3M rose $1.72 to $132.30 on the NYSE.
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