Law360, New York (September 19, 2016, 3:06 PM EDT) -- On Sept. 9, 2016, the U.S. Securities and Exchange Commission filed a complaint against RPM International Inc. and the company's general counsel and chief compliance officer. The SEC claims the company submitted false and misleading SEC filings that failed to disclose any loss contingency relating to a U.S. Department of Justice investigation that the company eventually settled for $60.9 million. The SEC also charged the GC/CCO individually for his failure to inform RPM and its auditors about material facts relating to the investigation. Although a company's estimates for litigation loss contingencies are typically subject to considerable judgment, the case is a reminder that the SEC will focus on suspected delays in disclosing and accruing for those contingencies. Here, the SEC has taken the additional step of pursuing, under negligence theories, an individual corporate officer involved in those judgments....