SAN FRANCISCO, May 14, 2018 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in PPG Industries, Inc. (NYSE :PPG ) to the Firm's investigation into securities law violations in connection with PPG's admission to improper historical accounting. If you purchased or otherwise acquired PPG securities between April 20, 2017 and May 10, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
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, concerns a report through PPG's internal reporting system concerning 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.
"We're focused on investors' losses and which of PPG's senior officers 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.
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Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP