On or around 11/22/2019 (Date of order of final judgment)
Filing Date: May 20, 2018
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.
Company & Securities Information
Defendant: PPG Industries, Inc.
Sector: Basic Materials
Industry: Chemical Manufacturing
Headquarters: United States
Ticker Symbol: PPG
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Trevor Mild, et al. v. PPG Industries, Inc., et al.