Hagens Berman Reminds Investors in PPG Industries, Inc. (PPG) of the July 19, 2018 Securities Class Action Lead Plaintiff Deadline Related to Possible Improper Accounting and SEC Investigation
SAN FRANCISCO, July 17, 2018 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP reminds investors in PPG Industries, Inc. (NYSE: PPG) of the July 19, 2018 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired PPG securities between April 24, 2017 and May 10, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/PPG
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
On May 10, 2018 PPG announced it fired its chief accounting officer in connection with an internal investigation conducted by its Audit Committee.
The Audit Committee's investigation, first reported on April 19, 2018, was apparently triggered by a report through PPG's internal reporting system about potential violations of PPG's accounting policies and procedures regarding the failure to accrue certain expenses in the first quarter of 2018.
In its May 10, 2018 announcement, PPG further advised its financial statements for the year ended December 31, 2017 and for the quarterly and year-to-date periods in 2017 should no longer be relied upon.
This news drove the price of PPG shares down $5.68, or about 5.4%, to close at $100.43 on May 11, 2018.
On June 28, 2018, The Wall Street Journal reported the Securities and Exchange Commission is investigating PPG after it fired its chief accounting officer. In response, the price of PPG shares again fell.
"We're focused on investors' losses, details surrounding the firing of the chief accounting officer, and which of PPG's senior officers may have knowingly violated Generally Accepted Accounting Principles," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding PPG should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email PPG@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP
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