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Avery Dennison: Judge Rejects 3M Injunction On OmniCube

DOW JONES NEWSWIRES Avery Dennison Corp. (AVY) said a U.S. judge has rejected 3M Co.'s (MMM) request to stop Avery from selling a type of sheeting that makes road signs more reflective at night. A representative for 3M said that the company was disappointed in the ruling but that it hasn't had a chance to review the decision or evaluate its options. According to a press release from Avery Dennison, Chief Judge Michael J. Davis of the United States District Court in Minnesota denied an injunction filed by 3M to prevent Avery Dennison from selling it OmniCube, based on a patent-infringement claim. The judge said Avery Dennison had raised a substantial question of the patent's validity, according to the office-supplies and label manufacturer. Avery Dennison had previously filed complaints in response to 3M's injunction request over OmniCube. In October, Avery Dennison claimed 3M was unlawfully monopolizing markets for the reflective sheeting, alongside claims of fraud and false advertising. Avery Dennison's earnings have rebounded in the past several quarters, sometimes sharply. While profit rose a meager 2.7% as margin deterioration masked revenue growth in its latest quarterly results, the results were better than expected and the company raised its forecast for the year. Meanwhile, 3M--which makes thousands of products ranging from Post-It notes to furnace filters and power lines--has reported stronger sales recently. In recent trading, shares of Avery Dennison were up 0.7% to $42.52. 3M's shares were up 0.4% to $86.88. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; [email protected]

Stock News for Avery Dennison (AVY)
03/23/201718:29:02Initial Statement of Beneficial Ownership (3)
03/20/201706:07:41Current Report Filing (8-k)
03/20/201705:45:00Avery Dennison Names Gregory S. Lovins Vice President and Interim...
03/10/201714:24:46Statement of Changes in Beneficial Ownership (4)
03/10/201707:20:44Additional Proxy Soliciting Materials (definitive) (defa14a)
03/10/201707:19:33Proxy Statement (definitive) (def 14a)
03/08/201713:25:15Statement of Changes in Beneficial Ownership (4)
03/08/201713:01:51Statement of Changes in Beneficial Ownership (4)
03/03/201717:28:52Securities Registration (section 12(b)) (8-a12b)
03/03/201717:00:41Current Report Filing (8-k)
03/02/201712:21:56Statement of Changes in Beneficial Ownership (4)
03/02/201712:19:10Statement of Changes in Beneficial Ownership (4)
03/02/201708:00:00Avery Dennison Completes Hanita Coatings Acquisition
03/01/201716:21:02Statement of Changes in Beneficial Ownership (4)
03/01/201716:16:13Current Report Filing (8-k)
02/27/201716:42:20Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
02/27/201715:36:04Statement of Changes in Beneficial Ownership (4)
02/27/201715:09:15Statement of Changes in Beneficial Ownership (4)
02/27/201714:48:22Statement of Changes in Beneficial Ownership (4)
02/27/201714:37:36Statement of Changes in Beneficial Ownership (4)

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