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Avery Dennison Sues 3M On Claims Of Anticompetitive Behavior

DOW JONES NEWSWIRES Avery Dennison Corp. (AVY) sued 3M Co. (MMM), claiming that 3M unlawfully monopolized markets for a type of sheeting that makes road signs more reflective at night, along with complaints of fraud and false advertising. A representative for 3M couldn't give an immediate comment on the claims. The suit is a response to patent claims against Avery Dennison, which is seeking both monetary damages and an injunction against 3M in its own suit. According to the complaint, 3M sought to prevent Avery Dennison from offering its new OmniCube product, which uses retroreflective sheeting that meets a newer, higher standard set by a standards organization known as ASTM International. The company claims 3M persuaded ASTM to declare a new standard--known as Type 1--for the type of sheeting at a time when 3M had the only Type 1 product available. Avery Dennison claims 3M promised the standards organization it would withdraw patent claims if the new standard was put in place. The suit claims that when Avery Dennison introduced its own Type 1 product, OmniCube, 3M sued it for patent infringement despite those representations to the ASTM and sought a preliminary injunction to block sales. The suit was filed in the U.S. District Court for the central district of California. Shares of both companies were inactive after hours. Avery stock fell 0.1% to $38.98 in the regular session Thursday, and 3M gained 1.2% to $90.55. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;

Stock News for Avery Dennison (AVY)
11/20/201511:53:44Statement of Changes in Beneficial Ownership (4)
11/10/201511:32:03Statement of Changes in Beneficial Ownership (4)
11/09/201516:41:24Statement of Changes in Beneficial Ownership (4)
11/03/201518:29:02Statement of Changes in Beneficial Ownership (4)
11/03/201516:52:28Statement of Changes in Beneficial Ownership (4)
11/03/201516:36:22Quarterly Report (10-q)
11/03/201516:20:11Statement of Changes in Beneficial Ownership (4)
11/02/201514:52:55Statement of Changes in Beneficial Ownership (4)
10/29/201507:02:39Current Report Filing (8-k)
10/29/201506:45:00Avery Dennison Announces Third Quarter 2015 Results
10/23/201517:01:58Current Report Filing (8-k)
10/22/201517:00:00Avery Dennison Declares Quarterly Dividend
10/18/201520:16:00Why You May Soon See More Goods Labeled 'Made in Vietnam'
10/15/201521:00:00Avery Dennison to Webcast Third Quarter 2015 Earnings Conference...
09/17/201514:00:00Avery Dennison Expands Kunshan Plant and Adds New Coater to Meet...
09/15/201509:31:00Consumer Goods Sector Equities in Motion -- Pitney Bowes, VeriFone...
09/10/201509:00:00Avery Dennison to Cut Absolute Emissions by at Least 26 Percent...
09/03/201516:30:00Avery Dennison to Present at Investor Conference on September...
08/19/201511:06:38Statement of Changes in Beneficial Ownership (4)
08/04/201514:16:48Quarterly Report (10-q)

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