According to the Complaint, PPG Industries, Inc. ("PPG" or the "Company") manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) PPG’s consolidated financial statements for the year ended December 31, 2017 and the quarterly financial statements of 2017 contained improper accounting entries and could no longer be relied upon; (2) PPG failed to maintain adequate internal controls; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

On August 27, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on September 21. Defendants filed Motions to Dismiss the amended Complaint on October 5. On December 21, the Court issued an Order denying the Motions to Dismiss.

On May 3, 2019, the parties submitted a joint status report indicating that they had reached an agreement in principle to settle the action. On June 1, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on July 25. On October 21, the Court granted final approval of the Settlement. On November 22, the Court entered Final Judgment. On February 25, 2021, the Court issued an Order authorizing the distribution of the Settlement fund.