National securities litigation law firm Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the July
19, 2018 deadline to file a lead plaintiff motion in the class
action filed on behalf of investors that purchased PPG Industries,
Inc. (“PPG” or the “Company”) (NYSE: PPG)
securities between April 24, 2017 and May 10, 2018, inclusive
(the “Class Period”).
If you are a shareholder who suffered a loss, click here
Investors suffering losses on their PPG investments are encouraged to
contact Lesley Portnoy of GPM to discuss their legal rights in this
class action at 310-201-9150 or by email to email@example.com.
On May 10, 2018, after the market closed, PPG disclosed that it would be
unable to file its quarterly report for the quarter ended March 31, 2018
on time. The Company further disclosed that, during an internal
investigation into the Company’s accounting, it identified approximately
$1.4 million in expenses that should have been accrued in the first
quarter of 2018, and suspected there may have been $5 million in
expenses that it improperly accrued in the first quarter.
On this news, PPG’s share price fell $5.68 per share, or more than 5%,
to close at $100.43 per share on May 11, 2018, thereby injuring
The complaint filed in this class action alleges that the Company made
false and misleading statements to the marketplace. It alleges that the
Company’s consolidated financial statements for the year ending December
31, 2017, and the quarterly statements of 2017 all contained improper
accounting entries and could not be relied upon by the investing public.
PPG also failed to sustain appropriate internal controls. As a result,
the Company’s financial statements were materially false and misleading
throughout the class period and did not accurately reflect the results
of business operations and the financial health of PPG.
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If you purchased shares PPG during the Class Period you may move the
Court no later than July 19, 2018 to ask the Court to
appoint you as lead. To be a member of the Class you need not take any
action at this time; you may retain counsel of your choice or take no
action and remain an absent member of the Class. If you wish to learn
more about this action, or if you have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East,
Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to firstname.lastname@example.org,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005914/en/