Bankruptcy as MDL escape hatch? Not so fast, judge tells 3M in ‘surprise’ decision
A federal bankruptcy judge in Indianapolis jolted 3M Co on Friday, ruling that scores of thousands of military veterans who claim hearing loss from 3M earplugs can continue to litigate their claims against 3M, despite the July 26 bankruptcy of several 3M subsidiaries. The company’s shares, as my colleague Dietrich Knauth reported, dropped 12% Friday and continued falling on Monday morning.
Bankruptcy as MDL escape hatch? Not so fast, judge tells 3M in ‘surprise’ decision
A federal bankruptcy judge in Indianapolis jolted 3M Co on Friday, ruling that scores of thousands of military veterans who claim hearing loss from 3M earplugs can continue to litigate their claims against 3M, despite the July 26 bankruptcy of several 3M subsidiaries. The company’s shares, as my colleague Dietrich Knauth reported, dropped 12% Friday and continued falling on Monday morning.