Transparency and Ethics

Headline from Seeking Alpha, March 23, 2023
"3M says financial guidance excludes possible litigation expense"

I'm just a dummy T3 - 4A, so I'm seeking to understand what this means.
Could it be that they are trying to hide the upcoming bad news?

The article goes on....." keep an eye on regulatory filings for more details about litigation expenses.

"Just make sure you are reading our 'Ks' and 'Qs' not only for combat arms and the updates to this, but for all our litigation matters because we try to make sure we are as comprehensive as we can on that,"

So I guess the information is technically there to cover there a$$, but you have to really look for it. 3M is counting on that most people will not look this deep, and they are probably right. So much for transparency.....raises some ethical questions in my mind as well.

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yes, the great unknown is what is making the stock sink, I believe

Basically what 3M is saying is this:

"All of our forward financial projections do not include anything for paying damages for either PFAS or earplugs. Our financial projections can only get worse as we learn how big the damages will be."

It has now clear that there will be some amount of damages 3M will have to pay on these matters. The only open question is the amount.

The U.S. government liability argument has been rejected in the courts. Nice try.

Combat Arms earplugs litigation is a bunch of bullsh-t. The fact the government wanting the Whisper design knowing full well if these plugs were not worn properly, they could cause damage. How can they be in combat that there was likely the possibility of hearing damage and tinnitus a real possibility. The Army in particular pushed for this design. I don't blame Veterans for suing, but tge Army should have just as much liability, the Army not only pushed for this design, they helped promote it.

Institutional investors and analysts definitely pay attention to this, and they make up like 70% of investors.

Thread regarding 3M layoffs

Transparency and Ethics

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