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July 1, 2004 | From Bloomberg News
3M Co., maker of Scotch tape, lost a Supreme Court appeal of a $68-million award to smaller rival LePage's Inc. for monopolizing tape sales. The justices in Washington refused to hear 3M's argument that antitrust law allows companies to cut prices in a way that harms a smaller rival, as long as the larger company's prices remain above cost. St. Paul, Minn.-based 3M's appeal was supported by companies including Verizon Communications Inc., Intel Corp. and Boeing Co.
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BUSINESS
July 1, 2004 | From Bloomberg News
3M Co., maker of Scotch tape, lost a Supreme Court appeal of a $68-million award to smaller rival LePage's Inc. for monopolizing tape sales. The justices in Washington refused to hear 3M's argument that antitrust law allows companies to cut prices in a way that harms a smaller rival, as long as the larger company's prices remain above cost. St. Paul, Minn.-based 3M's appeal was supported by companies including Verizon Communications Inc., Intel Corp. and Boeing Co.
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