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PPG Industries, Inc. (PPG)

NYSE:PPG

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In PPG Industries, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in PPG Industries, Inc. (“PPG” or the “Company”) (NYSE:PPG) of the July 19, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in PPG stock or options between April 24, 2017 and May 10, 2018 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased PPG securities between April 24, 2017 and May 10, 2018 (the “Class Period”).  The case, Trevor Mild v. PPG Industries, Inc. et al, No. 18-cv-04231 was filed on May 20, 2018, and has been assigned to Judge Dean D. Pregerson.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to maintain adequate internal accounting controls.

Specifically, on April 19, 2018, PPG disclosed that the Company received a report concerning potential violations of its accounting policies and identifying certain expenses that should have been accrued in the first quarter of 2018.

After the announcement, PPG’s share price fell from $109.64 per share on April 19, 2018 to a closing price of $108.87 on April 20, 2018—a $0.77 or a 0.70% drop.

Then, on May 10, 2018, PPG announced that its Audit Committee found evidence that improper accounting entries were made by certain employees at the direction of PPG’s former Vice President and Controller. Due to this finding, PPG’s Former Vice President was terminated as of May 10, 2018 and the Company announced that it would be unable to timely file its Quarterly Report on Form 10-Q  for the quarter ended March 31, 2018. PPG also declared that its financial statements for the 2017 year should no longer be relied upon.

After the announcement, PPG’s share price fell from $106.11 per share on May 10, 2018 to a closing price of $100.43 on May 11, 2018—a $5.68 or a 5.35% drop.

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  • Case:
    PPG Industries, Inc. (PPG)
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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 05/22/2018

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