3M (St. Paul, Minn.) filed a lawsuit against Performance Supply LLC over alleged price gouging of 3M’s N95 masks and deceptive trade practices amid the COVID-19 pandemic.
The lawsuit claims New Jersey-based Performance Supply offered to sell $45 million worth of N95 respirators to New York City officials with prices “500-600% over 3M’s list price,” according to 3M.
The lawsuit seeks injunctive relief to “require Performance Supply LLC to cease its illegal activities,” and also seeks damages. 3M has pledged to donate any damages recovered from the lawsuit to COVID-19-related nonprofits.
The N95 masks usually sell for under $1.50 per mask, but average prices have increased to $3.59 to $6.89 in recent weeks, according to the Wall Street Journal.
Since the outbreak of COVID-19 and the ensuing soar in demand for its respirators, 3M has repeatedly condemned price gouging, and said it has been working with retailers and law enforcement to identify where the illegal activity is occurring and end it.
“3M does not and will not tolerate price gouging, fraud, deception, or other activities that unlawfully exploit the demand for critical 3M products during a pandemic,” stated Denise Rutherford, senior VP, corporate affairs.
