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JB
Jason Bellier
@neostonks · Jun 10

This is really a shame, for me this could have been the perfect solution 😪

A U.S. judge on Friday dismissed the bankruptcy of 3M subsidiary Aearo Technologies, rejecting an effort to resolve nearly 260,000 lawsuits alleging that 3M's military earplugs caused hearing loss in veterans and members of the U.S. armed forces.

U.S. Bankruptcy Judge Jeffrey Graham in Indianapolis ruled that Aearo, as a well-supported subsidiary of 3M, used "a greater degree of financial security than would entitle it to bankruptcy protection."

BC
Bill Combs @billcombs Jun 10

It's a shame, but the share price is holding up. I was hoping that somehow this would be sorted out and everything would be fine.

AA
Ashraf Aboudar @ashraf_dd Jun 10

It could have been quickly done and forgotten. Well, investment isn't always great right away, and we have to wait here. I'm not selling, and luckily the price didn't react much to it on Friday.

BC
Bill Combs @billcombs Jun 10

I agree, I'm holding too.

AE
Antony Earl @antonyearl Jun 10

It's not a company that fits into my portfolio. I see a lot of legal problems here and the lawsuits will drag on for years, I don't want to be there.

JB
Jason Bellier @neostonks Jun 10

The risk is certainly there, but so is the potential for a comeback. Plus, it's a stable dividend, so hopefully at worst I'll cash out in a few years if things don't go as planned :D

MP
Mart Poom @martpoom Jun 10

Well, the price doesn't react that negatively 🤷‍♂️

JB
Jason Bellier @neostonks Jun 10

It's quite surprising. And I've even read that worse quarterly results are expected just on Friday :D

MD
Monday Dayton @mondaydayton Jun 10

Oops, so they keep sinking, I guess. I don't own the company, I only started following it based on the frequent mentions here because I was quite interested to see how it would handle so many complications and it's probably still going to be on short what, rather than a return to prices from where they started to fall.

JB
Jason Bellier @neostonks Jun 10

It's not on the right track yet, but we'll see, I believe in a comeback.