SAN DIEGO, Sept. 10, 2016 /PRNewswire/ -- Shareholder
Rights Law Firm Johnson & Weaver, LLP is investigating
potential violations of the federal securities laws by RPM
International Inc. (NYSE: RPM) and certain of its officers. RPM
manufactures, markets, and sells specialty chemical products for
industrial, specialty, and consumer markets worldwide.
On September 9, 2016, the U.S.
Securities Exchange Commission ("SEC") filed a complaint accusing
RPM of accounting fraud. The allegations are based upon failure of
RPM to timely disclose a loss contingency, or record an accrual for
an investigation by the U.S. Department of Justice (the "DOJ
investigation"). Per the SEC complaint, a public company
facing a loss contingency, such as a lawsuit or government
investigation, is required under accounting principles and the
securities laws to (1) disclose the loss contingency if a material
loss is reasonably possible, and (2) record an accrual for the loss
contingency if a material loss is probable and reasonably
estimable. In connection with the DOJ investigation, RPM faced a
material loss that was probable and reasonably estimable, but RPM
failed to disclose the loss contingency or record an accrual on its
books when required to do so.
On the news RPM stock closed down over 6% on September 9, 2016.
If you have information that could assist in this
investigation, including past employees and others, or if you are a
RPM shareholder and are interested in learning more about the
investigation or your legal rights and remedies, please contact
Jim Baker
(jimb@johnsonandweaver.com) by email or phone at 619-814-4471.
If emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP