Avery Dennison Corp. on Friday announced settlement of patent and antitrust litigation with onetime suitor 3M Co., enabling Avery Dennison to continue selling its specialty reflective sheeting product used on traffic signs.
3M of St. Paul, Minn., had alleged that the Pasadena labeling and office products company infringed on its patents and sought a preliminary injunction to prevent Avery from selling its OmniCube line, which is used to increase nighttime visibility of road signs and other highway and transportation products.
The court denied 3M's request, and Avery Dennison brought claims of its own for patent infringement and antitrust violations. The companies now have agreed to dismiss all pending cases, Avery Dennison said.
The two companies terminated a $550 million deal for 3M to buy Avery-Dennison's office and consumer products business in October due to U.S. antitrust opposition.