PPG Industries To Pay Investors $25M For Accounting Error
Law360 (June 4, 2019, 7:41 PM EDT) -- PPG Industries has agreed to pay $25 million to settle claims it deceived investors by overstating certain financial results that the company alleges were the result of a minor accounting error, according to California federal court filings.
The Pennsylvania-based paint company won't admit any wrongdoing as part of the deal, which covers anyone who bought PPG stock from January 2017 to May 2018, according to a Sunday filing urging U.S. District Judge R. Gary Klausner to approve the proposed settlement.
It's estimated that the average recovery per share will be around $0.34, court documents indicate. The lead plaintiff counsel is expected...
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