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New Federal Securities Cases

Arconic, Inc.

A class action lawsuit has been filed in the United States District Court for the Southern District of New York against Arconic, Inc. ("Arconic" or the "Company") (NYSE:ARNC) and certain of its officers, on behalf of investors who purchased or otherwise acquired Arconic securities during the period from February 28, 2017 through June 26, 2017 (the "Class Period"). The lawsuit seeks to recover compensable damages caused by defendants' violations of the Securities Exchange Act of 1934.

Arconic Inc. is a global provider of lightweight multi-material solutions, focused on the aerospace market in addition to serving the automotive, industrial gas turbine, commercial transportation, and building and construction markets. The Company also provides titanium, aluminum, nickel-based super alloy, and specialty alloy solutions.

The lawsuit alleges that throughout the Class Period, Defendants failed to disclose that Arconic knowingly supplied its highly flammable Reynobond PE (polyethylene) cladding panels for use in construction, which significantly increased the risk of property damage, injury and/or death in buildings constructed with Arconic's Reynobond PE panels.
On June 14, 2017, a fire broke out at the 24-story Grenfell Tower apartment block in London. The fire burned for roughly 60 hours, destroying the building and causing at least 80 deaths and over 70 injuries.

On June 24, 2017, The New York Times published an article entitled "Why Grenfell Tower Burned: Regulators Put Cost Before Safety", describing the causes of the Grenfell Tower fire and attributing the rapid spread of the fire to highly flammable Reynobond PE cladding panels manufactured by Arconic and used in the building's construction. On that same day, Reuters published an article entitled "Arconic knowingly supplied flammable panels for use in tower: emails," revealing that Arconic sales managers were aware that flammable panels would be distributed for use at Grenfell Tower. Then, on June 26, 2017, Arconic issued a press release announcing it would discontinue global sales of Reynobond PE for use in high-rise buildings after the material was suspected to have contributed to the spread of the deadly fire at the Grenfell Tower apartment complex in London.

On these disclosures, Arconic's common share price fell $3.70, or 14.49%, to close at $21.84 per share on June 27, 2017.

If you acquired Arconic securities during the Class Period, you may, no later than September 11, 2017, request that the court appoint you lead plaintiff of the proposed class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.

If you are a current or former Arconic shareholder and wish to obtain additional information, please fill out the contact form at the link below.


Investigation Contact Form

Arconic, Inc. Contact Form



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Ira M. Press


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