PPG ClaimsFiler Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against PPG Industries, Inc. - PPG
07/14/2018 | 04:51am CEST
NEW ORLEANS, July 13, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until July 19, 2018 to file lead plaintiff applications in a securities class action lawsuit against PPG Industries, Inc. (NYSE: PPG), if they purchased the Company’s securities between April 24, 2017 through May 10, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California
PPG and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 10, 2018, the Company disclosed that an investigation by its Audit Committee into violations of accounting policies relating to the accrual of expenses for 1Q2018 had also uncovered improper income reclassification entries made at the direction of its Vice President and Controller, who was terminated effective that day. Further, PPG would not be filing its 1Q2018 report timely and its financial statements for the FY 2017 included in its Form 10-K should no longer be relied upon.
On this news, the price of PPG’s shares plummeted.
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