Hynes Keller & Hernandez, LLC is investigating potential claims against the Board of Directors of PPG Industries, Inc. (NYSE: PPG) concerning possible breaches of fiduciary duty. On April 19, 2018, after market-close, PPG issued a press release entitled “PPG reports first quarter 2018 financial results,” disclosing that the company received a report concerning potential violations of its accounting policies and identifying certain expenses that should have been accrued in the first quarter.
Then, on May 10, 2018, PPG issued a press release entitled “PPG provides update on Form 10-Q filing and internal investigation,’” disclosing that: 1) PPG’s Audit Committee found evidence that improper accounting entries were made by certain employees at the direction of PPG’s former Vice President and Controller; 2) PPG’s Former Vice President was terminated as of May 10, 2018; 3) PPG would be unable to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2018; and 4) PPG’s financial statements for the 2017 year should not be relied upon.
If you hold PPG shares and you would like to discuss your legal rights, please email the firm at info@hkh-lawfirm.com. You can also contact us by calling Michael J. Hynes at (484) 875-3116 or by sending an e-mail to mhynes@hkh-lawfirm.com.