NEW YORK, July 19, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court; further details about the cases can be found at the links provided.
PPG Industries, Inc. (NYSE:PPG)
Class Period: April 24, 2017 - May 10, 2018
Lead Plaintiff Deadline: July 19, 2018
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: PPG’s consolidated financial statements for the year ended December 31, 2017 and quarterly financial statements for 2017 contained improper accounting entries and could no longer be relied upon; PPG failed to maintain adequate internal controls; and as a result, defendants’ public statements were materially false and misleading at all relevant times.
On April 19, 2018, PPG issued a press release disclosing it had received a report concerning possible violations of its accounting policies and the identification of approximately $1.4 million of expenses that should have been accrued in the first quarter. Then on May 10, 2018, PPG announced that certain previously issued financial statements could no longer be relied upon. As part of the investigation, the Company also determined that “certain improper accounting entries were made by certain employees at the direction of the Company’s former vice president and controller,” whose employment was terminated.
To learn more about the PPG class action go to: http://www.zlk.com/pslra-d/ppg?wire=3.
QUALCOMM Incorporated (NASDAQ:QCOM)
Class Period: January 31, 2018 - March 12, 2018
Lead Plaintiff Deadline: August 7, 2018
During the class period, Qualcomm had secretly filed a unilateral notice with CFIUS in order to frustrate Broadcom's attempt to acquire the Company; and investors suffered damages as a result of defendants' wrongful acts and omissions. On March 5, 2018, Broadcom announced that Qualcomm had filed a voluntary request for The Committee on Foreign Investment in the United States to initiate an investigation into Broadcom’s actions. Broadcom referred to this as a “blatant, desperate act by Qualcomm to entrench its incumbent board of directors and prevent its own stockholders from voting for Broadcom’s independent director nominees.”
To learn more about the Qualcomm class action go to: http://www.zlk.com/pslra-d/qualcomm-investigation?wire=3.
Glencore plc (OTCMKTS:GLCNF, GLNCY)
Class Period: September 30, 2016 - July 2, 2018
Lead Plaintiff Deadline: September 7, 2018
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: Glencore’s conduct would subject it to heightened scrutiny by U.S. and foreign government bodies resulting in investigations into the company’s compliance with money laundering and bribery laws, as well as the Foreign Corrupt Practices Act; and as a result, defendants’ statements about Glencore’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
On May 18, 2018, Bloomberg reported that the U.K.’s Serious Fraud Office was preparing to open a formal bribery investigation into Glencore. Then on July 3, 2018, Glencore disclosed that the U.S. Department of Justice issued its subsidiary a subpoena to produce documents and other records in connection with its compliance with U.S. money laundering statutes and the Foreign Corrupt Practices Act.
To learn more about the Glencore class action go to: http://www.zlk.com/pslra-d/glencore?wire=3
You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com