RADNOR, PA / ACCESSWIRE / May 20, 2018 / Kaskela Law LLC is investigating PPG Industries, Inc. (NYSE: PPG) ('PPG' or the 'Company') on behalf of the Company's shareholders.
PPG investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 - 1585 or (888) 715 - 1740, or via www.kaskelalaw.com/case/ppg-industries, to discuss this investigation and their legal rights and options.
On May 10, 2018, PPG disclosed that it had previously 'received a report through its internal reporting system alleging violations of PPG's accounting policies and procedures regarding the failure to accrue certain specified expenses in the first quarter of 2018.' Additionally, the Company disclosed that '[t]he Audit Committee of the Company's Board of Directors is overseeing an investigation of the matters set forth in the report,' and that the investigation 'has found evidence that the improper accounting entries were made by certain employees at the direction of the Company's former vice president and controller.' Further, PPG reported that it 'concluded that the Company's consolidated financial statements for the year ended December 31, 2017 included in its Annual Report on Form 10-K and the related report of PwC, and for the quarterly and year-to-date periods in 2017, should no longer be relied upon.'
Following this news, shares of the Company's stock declined $5.68 per share, or over 5%, to close on May 11, 2018 at $100.43, on heavy trading volume.
PPG shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 - 1585 or (888) 715 - 1740, or via www.kaskelalaw.com/case/ppg-industries, to discuss this investigation and their legal rights and options. Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 - 1585
(888) 715 - 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com
SOURCE: Kaskela Law LLC
