An investigation for current long-term investors in shares of RPM International Inc. (NYSE:RPM) over potential wrongdoing by certain officers and directors was announced and NYSE:RPM stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 09/10/2013 -- An investigation on behalf of current long-term stockholders of shares of RPM International Inc. (NYSE:RPM) was announced concerning whether certain RPM International officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholder of shares of RPM International Inc. (NYSE:RPM) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain RPM International officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls.
RPM International Inc. (NYSE:RPM) reported that its Total Revenue increased from over $3.77 billion for the 12 months period that ended on May 31, 2012 to over $4.07 billion for the 12 months period that ended on May 31, 2013, while its Net Income for those respective time periods declined from $215.94 million to $98.60 million.
Shares of RPM International Inc. (NYSE:RPM) grew from $17.68 per share in Sept. 2011 to as high as $36.00 per share on August 12, 2013.
On Aug. 27, 2013, RPM International Inc. (NYSE:RPM) announced that it has entered into a final agreement with the U.S. Department of Justice (DOJ) to settle claims regarding U.S. General Services Administration (GSA) Multiple Award Schedule (MAS) contracts held by the roofing division of the RPM Building Solutions Group.
RPM International Inc. said it expects to pay a total of approximately $65.1 million in order to resolve the issues arising out of those contracts and other related costs. RPM International Inc. also said that the settlement with the DOJ involved the Building Solutions Group's recognition that accurate information about commercial pricing and discounting practices was not always provided on a timely basis to the GSA, and that federal agencies purchasing under the GSA MAS contracts did not always receive the pricing required by the contracts and that the majority of the incidents on which the settlement is based occurred between 2002 and 2008.
On Sept. 9, 2013, NYSE:RPM shares closed at $34.96 per share.
Those who purchased shares of RPM International Inc. (NYSE:RPM), have certain options and should contact the Shareholders Foundation.
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