NEW YORK, July 16, 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.
Recro Pharma, Inc. (NASDAQ:REPH)
Class Period: July 31, 2017 and May 23, 2018
Lead Plaintiff Deadline: July 30, 2018
According to the complaint, the Company's lead product, IV meloxicam, lacked supporting clinical data to show sufficient clinical benefits to receive U.S. Food and Drug Administration ("FDA") approval; and as a result, Recro Pharma's public statements were materially false and misleading at all relevant times. On May 24, 2018, Recro Pharma announced that the FDA had declined to approve its New Drug Application ("NDA") for IV meloxicam. In its Complete Response Letter, the FDA stated that the drug's analgesic effects did not meet FDA expectations and raised questions related to chemistry, manufacturing and controls data.
To learn more about the Recro Pharma class action go to: http://www.zlk.com/pslra-d/recro-pharma-inc?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