The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased PPG Industries, Inc. (NYSE: PPG) securities between April 24, 2017 and May 10, 2018.
According to the PPG lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) PPG’s consolidated financial statements for the year ended December 31, 2017 and quarterly financial statements for 2017 contained improper accounting entries and could no longer be relied upon; (2) PPG failed to maintain adequate internal controls; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times. On April 19, 2018, PPG issued a press release disclosing it had received a report concerning possible violations of its accounting policies and the identification of approximately $1.4 million of expenses that should have been accrued in the first quarter. Then on May 10, 2018, PPG announced that certain previously issued financial statements could no longer be relied upon. As part of the investigation, the Company also determined that “certain improper accounting entries were made by certain employees at the direction of the Company’s former vice president and controller,” whose employment was terminated.
"PPG Industries, Inc."
If you suffered a loss in PPG Industries, Inc. you have until July 19, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
To receive more information, please fill out the form.