3M Ordered to Pay $68-Million Verdict

3M Co. must pay LePage’s Inc. $68 million after a U.S. appeals court reinstated a jury verdict that the consumer products company illegally monopolized sales of Scotch tape.

The U.S. 3rd Circuit Court of Appeals ruled that 3M used a variety of rebates and discounts to “squeeze out” LePage’s from the market for transparent tape.

Shares of St. Paul, Minn.-based 3M rose $1.72 to $132.30 on the NYSE.