We are investigating Boral Limited (BOALY; BOALF) (“Boral” or the “Company”) for potential violations of the federal securities laws.
On December 5, 2019, Boral disclosed that it had identified financial irregularities in its North American window business, involving the misreporting of inventory levels and raw material and labor cost at the window plants, and was conducting an internal investigation into the matter. Then, on February 9, 2020, Boral revealed that its investigation had found inflated earnings at its North American window-making business and announced that the Company had fired the division's vice president of finance and financial controller. On this news, Boral’s American depositary receipt price fell $1.08 per share, or 7.83%, to close at $12.72 per share on February 10, 2020.