You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Hearing scheduled for 10/12/2022 at 01:00 PM at US Bankru Order Scheduling Omnibus Hearing Date. Kirkland & Ellis LLP told an Indiana bankruptcy judge it should be allowed to represent 3M unit Aearo Technologies LLC in its Chapter 11 and 3M in the product liability litigation that sparked the bankruptcy, sayingWednesday the companies' interests are aligned. 22-50068 (Nicholas Maciel v. 3M Occupational Safety LLC, et al.). The cases are pending before the Honorable Karen B. Owens, and are jointly administeredunder Case No. You can identify these statements by the use of words such as "anticipate," "estimate," "expect," "aim," "project," "intend," "plan," "believe," "will," "should," "could," "target," "forecast" and other words and terms of similar meaning in connection with any discussion of future operating or financial performance or business plans or prospects. Amended HEARING CANCELLED. Hearing scheduled for 9/29/2022 at 10:30 AM at US Bankruptcy Cour Notice of Agenda of Matters Scheduled for Hearing Filed by Stimwave Technologies Incorporated. With this change in strategy, this process is intended to resolve claims related to Combat Arms Earplugs in a manner that is more efficient and equitable to all parties. Login to our enhanced client management system. Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, regulatory, capital markets and other external conditions and other factors beyond the Company's control, including natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) risks related to public health crises such as the global pandemic associated with the coronavirus (COVID-19); (3) foreign currency exchange rates and fluctuations in those rates; (4) liabilities related to certain fluorochemicals, including lawsuits concerning various PFAS-related products and chemistries, and claims and governmental regulatory proceedings and inquiries related to PFAS in a variety of jurisdictions; (5) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2021, as updated by the Company's Current Report on Form 8-K dated April 26, 2022, and any subsequent quarterly reports on Form 10-Q (the "Reports"); (6) competitive conditions and customer preferences; (7) the timing and market acceptance of new product offerings; (8) the availability and cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (9) unanticipated problems or delays with the phased implementation of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (11) operational execution, including scenarios where the Company generates fewer productivity improvements than estimated; (12) financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; (13) the Company's credit ratings and its cost of capital; (14) tax-related external conditions, including changes in tax rates, laws or regulations; (15) matters relating to the proposed spin-off of the Company's Health Care business, including whether the transaction will be completed, or if completed, will be on the expected terms; the risk that the expected benefits will not be realized; the risk that the costs or dis-synergies will exceed the anticipated amounts; the ability to satisfy the various closing conditions; potential business disruption; the diversion of management time; the impact of the transaction (or its pendency) on the Company's ability to retain talent; potential impacts on the Company's relationships with its customers, suppliers, employees, regulators and other counterparties; the ability to realize the desired tax treatment (including whether an Internal Revenue Service private letter ruling will be sought or obtained); the risk that any consents or approvals required will not be obtained; risks associated with financings that may be undertaken and indebtedness that may be incurred in connection with the transaction; and (16) matters relating to the voluntary chapter 11 proceedings of the Company's subsidiary Aearo Technologies and certain of its affiliates (the "Aearo Entities"), including legal risks related to the chapter 11 proceedings; potential impacts to the Company's reputation and its relationships with customers, suppliers, employees, regulators and other counterparties and community members; potential impacts to the Company's liquidity or results of operations, including risks related to the amount that will be necessary to fully and finally resolve all of the Company's obligations to make payments to resolve such claims under the terms of its funding and indemnification agreement with the Aearo Entities; and the Aearo Entities' ability to navigate the chapter 11 proceedings to obtain approval and consummation of a plan of reorganization. The Aearo Technologies chapter 11 cases were filed in the U.S. Bankruptcy Court for the Southern District of Indiana. The cases are pending before the Honorable Jeffrey J. Graham and are jointly administered under Case No. Call 800-762-2596 within the U.S. or +1 212-231-2916 outside the U.S. Toll-free in the U.S./Canada: (855) 639-3375 International: +1 (347) 897-3818 Email: aearotechnologiesinfo@ra.kroll.com Emily Geier, 300 North LaSalle Street Chicago, Job Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, regulatory, capital markets and other external conditions and other factors beyond the Company's control, including natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) risks related to public health crises such as the global pandemic associated with the coronavirus (COVID-19); (3) foreign currency exchange rates and fluctuations in those rates; (4) liabilities related to certain fluorochemicals, including lawsuits concerning various PFAS-related products and chemistries, and claims and governmental regulatory proceedings and inquiries related to PFAS in a variety of jurisdictions; (5) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2021, as updated by the Company's Current Report on Form 8-K dated April 26, 2022, and any subsequent quarterly reports on Form 10-Q (the "Reports"); (6) competitive conditions and customer preferences; (7) the timing and market acceptance of new product offerings; (8) the availability and cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (9) unanticipated problems or delays with the phased implementation of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (11) operational execution, including scenarios where the Company generates fewer productivity improvements than estimated; (12) financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; (13) the Company's credit ratings and its cost of capital; (14) tax-related external conditions, including changes in tax rates, laws or regulations; (15) matters relating to the proposed spin-off of the Company's Health Care business, including whether the transaction will be completed, or if completed, will be on the expected terms; the risk that the expected benefits will not be realized; the risk that the costs or dis-synergies will exceed the anticipated amounts; the ability to satisfy the various closing conditions; potential business disruption; the diversion of management time; the impact of the transaction (or its pendency) on the Company's ability to retain talent; potential impacts on the Company's relationships with its customers, suppliers, employees, regulators and other counterparties; the ability to realize the desired tax treatment (including whether an Internal Revenue Service private letter ruling will be sought or obtained); the risk that any consents or approvals required will not be obtained; risks associated with financings that may be undertaken and indebtedness that may be incurred in connection with the transaction; and (16) matters relating to the voluntary chapter 11 proceedings of the Company's subsidiary Aearo Technologies and certain of its affiliates (the "Aearo Entities"), including legal risks related to the chapter 11 proceedings; potential impacts to the Company's reputation and its relationships with customers, suppliers, employees, regulators and other counterparties and community members; potential impacts to the Company's liquidity or results of operations, including risks related to the amount that will be necessary to fully and finally resolve all of the Company's obligations to make payments to resolve such claims under the terms of its funding and indemnification agreement with the Aearo Entities; and the Aearo Entities' ability to navigate the chapter 11 proceedings to obtain approval and consummation of a plan of reorganization. 224-1W-02 90071-3197 Changes in such assumptions or factors could produce significantly different results. Listed on 2022-11-08. https://www.kirkland.com/ Phone: 312.862.2000 Fax: 312.862.2200, Chad J. Husnick, P.C. The telephone replay will be available until. Hearing on the Kirkland Employment Application and the B Notice of Submission / Amended Proposed Agenda For Hearing on (I) Respirator Committee's Certain Retention Applications, (II) CAE Committee's Certain Retention https://www.justice.gov/ust-regions-r10/region-10-southern-district-indiana. CA Aearo Technologies has indemnified 3M for obligations related to the claims. Live Now: KRON4 News streaming on KRONon; Watch Live News The following hearing has been cancelled. To access the press release, please visit our press release page here. Additional information is available on resolvingearpluglitigation.com and www.3mearplugsfacts.com. 22-50059 (Aearo Technologies LLC, et al. Kirkland & Ellis LLP is serving as legal counsel and AlixPartners LLP is serving as restructuring advisor to Aearo Technologies. You may unsubscribe by clicking the Unsubscribe link at the bottom of the email updates you receive. DE ALL PRIME CLERK URLS AND EMAIL ADDRESSES ARE AUTOMATICALLY REDIRECTED. Aearo Technologies Restructuring Hotline and Email. Final Hearing on Certain First Day Motions. OnJuly 15, 2022, the Bankruptcy Court entered an order approving the bidding procedures in connection with the sale ofall orsubstantially all of the Debtors' assets. The Aearo Technologies chapter 11 cases were filed in the U.S. Bankruptcy Court for the Southern District of Indiana. "We determined that taking this decisive action now will allow 3M and Aearo Technologies to address these claims in a way that is more efficient and equitable than the current litigation.". Proc. You may unsubscribe by clicking the Unsubscribe link at the bottom of the email updates you receive. Investors can access this conference via the following: This news release contains forward-looking information about 3M's financial results and estimates and business prospects that involve substantial risks and uncertainties. With this change in strategy, this process is intended to resolve claims related to Combat Arms Earplugs in a manner that is more efficient and equitable to all parties. You must click the activation link in order to complete your subscription. As a result, 3M recorded a total pre-tax charge of $1.2 billion, or $1.66 per share, and reflected it as an adjustment in arriving at its results, adjusted for special items. Hearing scheduled for 6/16/2022 at 02:00 PM at US Bankruptcy Cour Notice of Agenda of Matters Scheduled for Hearing Filed by Stimwave Technologies Incorporated. 3M will conduct an investor teleconference at 9 a.m. EDT (8 a.m. CDT) today. Proc. You may unsubscribe by clicking the Unsubscribe link at the bottom of the email updates you receive. https://www.justice.gov/ust-regions-r10/region-10-southern-district-indiana Phone: 317.226.6101 Fax: 317.226.6356, Southern District of Indiana 46 E Ohio St, Room 116 Indianapolis, http://www.deb.uscourts.gov/. 22-50068 (Nicholas Maciel v. 3M Occupational Safety LLC, et al. On June 15, 2022, Stimwave Technologies Incorporated and Stimwave LLC (together, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The Company assumes no obligation to update any forward-looking statements discussed herein as a result of new information or future events or developments. IN Notice of Agenda of Matters not going forward. PRIME CLERK IS NOW KROLL RESTRUCTURING ADMINISTRATION. 19801 Login to our enhanced client management system. You may unsubscribe by clicking the Unsubscribe link at the bottom of the email updates you receive. All significant new filings across U.S. federal district courts, updated hourly on business days. Case No. Full Time position. Please see the company's second-quarter earnings press release for more details. We've pioneered new treatment techniques and developed proprietary, high performance A hearing on the Debtors' First Day Motions was held on June 16, 2022 before the Honorable Karen B. Owens, United States Bankruptcy Court for the District of Delaware, 824 Market St., 6th Floor, Courtroom #3, Wilmington, DE 19801. Hearing on Motion to Enforce the Automatic Stay [Continued], Final Hearing on Certain First Day Motions, Adv. IN Please click below to view and download the Debtors' First Day Motions, Orders and related documents: First Day Motions First Day Orders First Day Hearing Presentation, 601 Lexington Avenue New York, The company believes that, absent the actions taken today, the claims could take years, if not decades, to litigate on a case-by-case basis. Please join the call at least 10 minutes before the start time. For more than 40 years, Aearo Technologies has been a leader in energy-control technology. Kroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. It is with great sadness that we announce the death of Frank G. Christy (New Hyde Park, New York), leaving to mourn family and friends. With this change in strategy, this process is intended to resolve claims related to Combat Arms Earplugs in a manner that is more efficient and equitable to all parties. Aearo Technologies was acquired by 3M in 2008 and has since operated as a wholly-owned subsidiary of 3M. 3M and its other businesses have not filed for chapter 11 and will continue to operate as usual. 333 South Grand Avenue Los Angeles, CA 90071-3197 https://www.gibsondunn.com/ Phone: 213.229.7000 Fax: 213.229.7520 Robert A. Klyman "We have great respect for the brave men and women who protect us, and remain committed to the military as an active partner and valued customer going forward," said 3M chairman and chief executive officer Mike Roman. The well-established chapter 11 process is intended to achieve an efficient and equitable resolution, reduce uncertainty, and increase clarity for all stakeholders, while reducing the cost and time that could otherwise be required to litigate thousands of cases. At 3M, we promise to treat your data with respect and will not share your information with any third party. 22-10541. 3M will conduct an investor teleconference at 9 a.m. EDT (8 a.m. CDT) today. Please see the company's second-quarter earnings press release for more details. 22-02890. Watch Live. DE "We have great respect for the brave men and women who protect us, and remain committed to the military as an active partner and valued customer going forward," said 3M chairman and chief executive officer Mike Roman. Family and friends are welcome to send 19801 Aearo Technologies has indemnified 3M for obligations related to the claims. 3M has committed $1 billion to fund the trust, based on the analysis of an experienced estimator of claims in chapter 11. Law360 may contact you in your professional capacity with information about our other products, services and events that we believe may be of interest.Youll be able to update your communication preferences via the unsubscribe link provided within our communications.We take your privacy seriously. The claims largely relate to the previous generation Combat Arms Earplugs manufactured by Aearo Technologies, as well as discontinued Aearo Technologies mask and respirator products utilized to reduce workplace exposure to asbestos, silica, coal mine dust or occupational dusts. Multiple addresses are to be separated by a semicolon (;). 3M Subsidiary Aearo Technologies Takes Action to Efficiently and Equitably Resolve Litigation Related to Combat Arms Earplugs, Caution Concerning Forward-Looking Statements, https://www.prnewswire.com/news-releases/3m-subsidiary-aearo-technologies-takes-action-to-efficiently-and-equitably-resolve-litigation-related-to-combat-arms-earplugs-301593190.html, SDS, RDS, More Regulatory & Compliance Information, Aearo Technologies and related entities have voluntarily initiated chapter 11 proceedings, 3M has committed $1 billion to fund a trust to resolve all claims determined to be entitled to compensation. Zacks Industry Outlook Highlights Honeywell International, General Electric and 3M Company, 3 Dow Stocks Smart Investors Shouldnt Touch With a 10-Foot Pole, 3M and U.S. Environmental Protection Agency Announce Comprehensive Agreement for Cordova Region Drinking Water, Despite a Nearly 5% Dividend Yield, Investors Should Still Be Cautious About 3M Stock, Registration on or use of this site constitutes acceptance of our, Aearo Technologies and related entities have voluntarily initiated chapter 11 proceedings. Q2 2022 Earnings Results and Conference Call. Case No. Please click below to view all documents related to the sale: In accordance with Section 341 of the Bankruptcy Code, a meeting of the Debtors' creditors was held on July 20, 2022,and has been continued to a date to be determined. 11. Kroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. Password must match previously entered new password. Call 800-762-2596 within the U.S. or +1 212-231-2916 outside the U.S. Password must match previously entered new password. The well-established chapter 11 process is intended to achieve an efficient and equitable resolution, reduce uncertainty, and increase clarity for all stakeholders, while reducing the cost and time that could otherwise be required to litigate thousands of cases. View original content to download multimedia:https://www.prnewswire.com/news-releases/3m-subsidiary-aearo-technologies-takes-action-to-efficiently-and-equitably-resolve-litigation-related-to-combat-arms-earplugs-301593190.html, Plus500. Click here to login, Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters, Email (NOTE: Free email domains not supported). Court filings and information about the chapter 11 cases are available on a separate website administered by Aearo Technologies' claims agent, Kroll; information is also available by calling (855) 639-3375 (Toll-Free US/Canada) or +1 (347) 897-3818 (International); or by emailing [emailprotected]. 19801 3M will provide additional funding if required under the terms of the agreement. ST. PAUL, Minn., July 26, 2022 /PRNewswire/ -- 3M (NYSE: MMM) today announced it is taking action to resolve litigation related to Combat Arms Earplugs Version 2 ("Combat Arms Earplugs"). 3M has also committed an additional $240 million to fund projected related case expenses. Notice of Agenda of Matters Scheduled for Hearing Filed by Stimwave Technologies Incorporated. On July 26, 2022, Aearo Technologies LLC and six (6) affiliated debtors (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States UAT TEST After submitting your request, you will receive an activation email to the requested email address. Primary Menu. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. https://www.youngconaway.com/ Phone: 302.571.6600 Fax: 302.571.1253, Michael R. Nestor Andrew L. Magaziner Elizabeth S. JustisonJared W. Kochenash, 844 King Street Suite 2207 Wilmington, 46204 Kroll Restructuring Administration LLC NY IT Support, Unix, ALL PRIME CLERK URLS AND EMAIL ADDRESSES ARE AUTOMATICALLY REDIRECTED. 2022, Portfolio Media, Inc. | About | Contact Us | Legal Jobs | Advertise with Law360 | Careers at Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map, Kirkland Says Its Interests Not Conflicted In 3M Unit's Ch. (Related document(s)398) Omnibus Hearing scheduled for 10/28/2022 at 01:00 PM US Bankruptcy Court, 824 Market St., 6th Fl Order Scheduling Omnibus Hearing Dates. Aearo Technologies LLC a 3 Choose Your Market Or View All Markets Automotive Electrification and Electronics Energy control solutions for automotive electrification and electronic devices. "We determined that taking this decisive action now will allow 3M and Aearo Technologies to address these claims in a way that is more efficient and equitable than the current litigation.". Create a recurring email based on criteria you specify below. 3M has entered into a funding agreement with Aearo Technologies to establish a trust to resolve all claims determined to be entitled to compensation, and to support Aearo Technologies as it continues to operate during the chapter 11 process. The company believes that, absent the actions taken today, the claims could take years, if not decades, to litigate on a case-by-case basis. PJT Partners is serving as financial advisor and White & Case LLP is serving as legal counsel to 3M. CORRECTED ENTRY: Notice of Hearing on (I) First Day Motions and (II) Related Pleadings Filed in Adversary Proceeding filed by Jeffrey A Hokanson. 3M has committed $1 billion to fund the trust, based on the analysis of an experienced estimator of Send the document via email. Proc. Job in New York City - Richmond County - NY New York - USA , 10261. PLEASE NOTE: A verification email will be sent to your address before you can access your trial. PRIME CLERK IS NOW KROLL RESTRUCTURING ADMINISTRATION. For more than 40 years, Aearo Technologies LLC has led the way in energy-control technology.
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