3M Loses Lawsuit; Jefferies Expects Negligible Impact

Jefferies reports that the US District Court denied 3M's request for a preliminary injunction in a patent infringement lawsuit against Avery Dennison Corporation AVY, ruling that 3M Company MMM failed to demonstrate irreparable harm. “We view this ruling as a headline risk but expect any near-term earnings impact to be negligible,” Jefferies writes. 3M Company closed Wednesday at $86.72; Avery Dennison closed at $42.47.