Shareholders Ask 3rd Circuit To Deny Mandamus Petition In 3M Stock-Drop Suit

Mealey's (October 15, 2020, 3:30 PM EDT) -- PHILADELPHIA — The Third Circuit U.S. Court of Appeals should deny a petition for writ of mandamus filed by the 3M Co. and certain of its current and former executive officers in an investor class action claiming that the defendants concealed the truth about the company’s exposure to liability associated with per- and polyfluoroalkyl substances (PFAS) in violation of federal securities laws because a federal district court committed no clear error in denying the petitioners’ request to transfer the action to Minnesota federal court, shareholders argue in an Oct. 13 response brief (In re 3M Co., et al., No. 20-2864, 3rd Cir.)....