3M to Settle Antitrust Lawsuits Over Tape

3M Co., the maker of Scotch tape, has tentatively agreed to settle 12 antitrust lawsuits claiming that the company monopolized the market for transparent tape and overcharged consumers.

3M won’t disclose the amounts of the settlements, a company spokeswoman said. The total amount of the proposed settlements “is not material to 3M,” the company said.

The settlements cover lawsuits by consumers and other indirect purchasers of 3M transparent tape filed in California, Pennsylvania, Florida and other states.

Shares of St. Paul, Minn.-based 3M rose 35 cents to $84.27 on the New York Stock Exchange.