3M to pay $28.8 million settlement

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29 August 2006 — St Paul (MN): 3M has been given final approval to settle a class action antitrust lawsuit for $28.8 million.

 

Meijer, the Mid-West grocery and general merchandise retailer, claimed that 3M breached American antitrust laws by attempting to monopolise the tape market.

 

In 1999 an antitrust case issued a verdict against 3M, ruling in favour of LePage’s, a rival tape maker, to the sum of $68.4 million following claims that 3M used customer rebates illegally to secure a 90 percent share of the private label tape market.