3M to pay $1.3 million to British firm

The Porton Group and its partners filed a lawsuit claiming the Maplewood company failed to deliver on a promise to market a diagnostic test for hospitals. 3M made a multimillion-dollar deal to acquire the test in 2007, but much of the payout was tied to future sales. A year later, 3M had dropped the product, BacLite. The investment fund had sought $40 million in the suit. Both sides have claimed a victory in the case.

Author:: BMTN Staff
Publish date:: Nov 7, 2011
Updated on: Mar 8, 2018

The Porton Group and its partners filed a lawsuit claiming the Maplewood company failed to deliver on a promise to market a diagnostic test for hospitals. 3M made a multimillion-dollar deal to acquire the test in 2007, but much of the payout was tied to future sales. A year later, 3M had dropped the product, BacLite. The investment fund had sought $40 million in the suit. Both sides have claimed a victory in the case.

DONTCHA KNOW?

BMTN Newsletters Deliver The Biggest MN Stories

Get Our Newsletter

Le Sueur County Sheriff

The man walked away from the home on April 20.

Screen Shot 2019-04-24 at 8.06.59 PM

A vote was taken in the Minnesota House on Wednesday.

minneapolis-police-body-camera

The Minneapolis Police Federation is openly defying the mayor's ban.

Williams Arena

Beer and wine is currently only available in premium seating areas.

Brian Robison

Robison spent his entire career with the Vikings.

Roby

The pair voided more than $2,000 of customer transactions and pocketed the difference.

NDSU Easton Stick

What about NDSU's Easton Stick?

Zoey, a puppy stolen during a Minnetonka burglary.

The miniature schnauzer was returned to her owners this weekend.

Jose Berrios

Berrios will pitch Friday. The Twins also called up Fernando Romero.

downtown Minneapolis, parking

The meter changes introduced last week by the City of Minneapolis affects weekend parking.

Chris Etchison

The 36-year-old was reported missing April 19.

Screen Shot 2019-04-24 at 9.33.04 AM

The sketch artist sends the portraits surviving family members.

A 3M executive says the $50 million investment is part of a "five-year strategy for China to increase annual sales 15 to 20 percent." The Maplewood-based manufacturer plans to develop new technology and products for the China market -- 3M's biggest overseas market.

The 3M Co. is suing one of its former law firms for switching sides – to aid in a suit against 3M that claims the company damaged the environment. The company is citing "betrayal" motivated by "greed" of the national firm Covington & Burling LLP, which is now helping the Minnesota attorney general in a suit against 3M.

Maplewood-based 3M Co. has agreed to pay $110 million in cash to buy Federal Signal Technologies Group, which focuses on electronic toll collection and parking management software services.

After 10 years at Maplewood-based 3M, Mauro Porcini will now focus on expanding Pepsi's 12 biggest brands, Fast Company reports. At 3M, Porcini had a role in designing office supplies, health care products and built a sought-after design team. Porcini joins PepsiCo on July 2.

Kansas officials say they won't pay 3M the remaining $4 million the state owes on its $25 million contract until the Maplewood-based vendor fixes the state's new $40 million motor vehicle system. Among the issues, the Topeka Capital-Journal reports the new software didn't convert more than 70,000 records correctly and counties continue to report other problems three months after the May launch.

The Pioneer Press reports the departing CEO is joining Arle Capital LLP in his native Great Britain.

Maplewood-based 3M is suing the maker of joke sticky notes called Post Structrual-Its, Jeez-Its and Buddh-Its. 3M says the products with names that end in 'Its' infringe on its trademark Post-It brand.

The Gopher 5 ticket matching all five numbers was sold Friday. A lottery spokeswoman told the Associated Press this is the second million-dollar ticket sold in the past two months.