SAN DIEGO and MEDINA, Ohio, Sept. 5, 2013 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of RPM International, Inc. (NYSE: RPM) breached their fiduciary duties to shareholders. RPM manufactures, markets, and sells specialty chemical products for industrial and consumer markets in the United States and internationally.
RPM Accused of Submitting False Claims to the U.S. General Services Administration
On August 27, 2013, RPM announced that the company has agreed to pay approximately $65.1 million to settle claims that one of its subsidiaries filed false claims with the U.S. General Services Administration for roofing supplies and services. According to the U.S. Department of Justice, the RPM subsidiary knowingly violated its contractual obligation to provide the GSA with current, accurate, and complete information regarding its commercial pricing and discounting practices. As a result, from January 2002 to March 2011, the RPM subsidiary did not consistently provide government agencies the contractually required pricing.Robbins Arroyo LLP Investigates Failed Internal Controls and Potential Improper Public Statements by RPM Officers and Directors Robbins Arroyo LLP's investigation concerns whether certain of RPM's officers and directors failed to implement adequate internal controls to ensure proper accounting practices. In addition, Robbins Arroyo LLP is investigating whether these fiduciaries issued false and misleading statements regarding: (i) the company's financial condition; and (ii) the implementation and maintenance of internal controls to ensure that RPM complied with the Generally Accepted Accounting Principles. Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website. Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsarroyo.com. Press release link: http://www.robbinsarroyo.com/shareholders-rights-blog/rpm-international-inc/ Attorney Advertising. Past results do not guarantee a similar outcome.