3M Takes Legal Action Against Price Gouging its COVID-19 Protective Gear

Respirator maker 3M (NYSE:MMM) has filed a lawsuit in a New York City federal court accusing a New Jersey company of price gouging and deceptive trade practices in the sale of its N95 respirator masks. The company accuses Performance Supply LLC of attempting to sell $45 million worth of N95 masks to New York City officials at prices from 500% to 600% above 3M's list price. It also accuses the New Jersey-based company of falsely claiming a business affiliation with 3M.