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PPG says U.S. prosecutors probing accounting practices

Published 01/17/2019, 05:41 PM
Updated 01/17/2019, 05:41 PM
© Reuters.  PPG says U.S. prosecutors probing accounting practices
  • PPG Industries (NYSE:PPG) says federal prosecutors are investigating the same improper accounting practices the SEC began probing last June.
  • PPG shares dropped slightly after executives disclosed the U.S. attorneys’ investigation during today's earnings conference call but then recovered to close the day +4.7%.
  • PPG said last May that it had uncovered accounting irregularities made at the direction of the company’s controller; PPG fired the controller and said its 2017 financial reports could no longer be relied upon.
  • Now read: Rio Tinto (LON:RIO) 2018 iron ore production rises 2%; copper output jumps 33%


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