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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; joan.solsman@dowjones.com

Stock News for Avery Dennison (AVY)
DateTimeHeadline
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep -2-
07/23/201309:24:01Avery Dennison 2nd-Quarter Profit Up 7.2% on Sales, Margin Growth
03/29/201307:19:363M Says Court Upholds Validity of Retroreflective Sheeting Patent
10/24/201209:38:55Avery Dennison 3rd-Quarter Profit Rose 8.5% on Stronger Margins...
10/04/201209:21:09U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
10/03/201218:20:403M, Avery Dennison Scuttle $550 Million Acquisition
09/04/201219:41:05DOJ: 3M Abandons Avery Deal Amid Antitrust Lawsuit Threat
09/04/201219:39:30Justice Department: 3M Drops Plans to Acquire Avery Dennison's...
09/04/201216:31:18Justice Department May Sue to Block 3M Purchase of Avery Dennison...
06/21/201216:21:13Expanding Toll Roads Prompted 3M's $110 Million Deal for Federal...
04/21/201200:20:37MARKET SNAPSHOT: U.S. Stock Gains Hinge On Apple, Blue-chip Results
02/07/201217:20:07Staples, Avery Target Home Organization With Martha Stewart Line
01/31/201209:41:56Avery Dennison 4Q Profit Off 81% On Prior-Year Benefit, Sales...
01/26/201209:21:30CORRECT: 3M's 4Q Profit Up 2.8% On Industrial, Transportation...
01/26/201209:14:583M's 4Q Profit Up 2.8% On Industrial, Transportation Strength
01/03/201209:04:083M To Acquire Avery Dennison Office, Consumer Products Unit For...
07/26/201110:00:46CORRECT: Avery Dennison 2Q Profit Drops 13% On Volume Declines
07/26/201109:19:14Avery Dennison 2Q Profit Drops 13% On Volume Declines
04/27/201109:23:44Avery Dennison 1Q Net Drops 18% On Weaker Margins; Revenue Rises

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