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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
07/23/201508:00:00Avery Dennison Declares Quarterly Dividend
07/16/201517:00:00Avery Dennison to Webcast Second Quarter 2015 Earnings Conference...
07/15/201510:05:00OGX, WS Packaging Group, Inc. and Avery Dennison Collaborate...
06/24/201514:50:29Annual Report of Employee Stock Plans (11-k)
06/19/201516:16:48Current Report Filing (8-k)
06/02/201513:35:50Statement of Changes in Beneficial Ownership (4)
06/02/201513:31:27Statement of Changes in Beneficial Ownership (4)
05/29/201516:03:27Specialized Disclosure Report (sd)
05/26/201512:15:38Statement of Changes in Beneficial Ownership (4)
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201516:30:00Avery Dennison to Present at Investor Conference on June 3, 2015
05/15/201516:47:26Statement of Changes in Beneficial Ownership (4)
05/15/201516:44:48Statement of Changes in Beneficial Ownership (4)
05/12/201514:48:35Statement of Changes in Beneficial Ownership (4)
05/08/201517:05:26Current Report Filing (8-k)
05/05/201515:55:48Quarterly Report (10-q)
05/05/201513:01:18Avery Dennison Corp Price Target Raised to $61.00 (AVY)
05/05/201503:13:07Avery Dennison Corp Upgraded by JPMorgan Chase & Co. to Overweight...
05/04/201517:59:24Statement of Changes in Beneficial Ownership (4)
05/04/201516:23:20Statement of Changes in Beneficial Ownership (4)

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