MVA Litigation Client Advisory Update – Judge Refuses to Dismiss SEC Action Against RPM International and Its General Counsel Alleging Loss Contingency Disclosure Failures

James P. McLoughlin, Jr., Neil T. Bloomfield, and Elena F. Mitchell issued a Client Advisory Update titled “Judge Refuses to Dismiss SEC Action Against RPM International and Its General Counsel Alleging Loss Contingency Disclosure Failures.” On Friday September 29, 2017, U.S. District Judge Amy Berman Jackson denied the motions to dismiss filed by RPM International, Inc. and its general counsel, Edward Moore, discussed in our previous Client Advisory. Judge Jackson concluded the SEC’s allegations stated plausible fraud claims against RPM and Moore and RPM and Moore had failed in their duty to disclose and accrue for a Department of Justice investigation pursuant to generally accepted accounting principles, in particular Accounting Standards Codification (“ASC”) 450. Click here to read the full Client Advisory Update discussing the court’s ruling. 

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