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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; 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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