LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Arconic Inc. (“Arconic” or the “Company”) (NYSE:ARNC) (NYSE:ARNC-P) (NYSE:ARNC-PB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s shares between February 28, 2017 and June 26, 2017, inclusive (the “Class Period”), are encouraged to contact the firm before September 11, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Arconic made false and/or misleading statements, and/or failed to disclose material information, to investors. On June 14, 2017, a fire broke out at the 24-story Grenfell Tower in London, which destroyed the building and caused at least 80 deaths and over 70 injuries. On June 24, 2017, The New York Times reported on the causes of the Grenfell Tower fire and attributed the rapid spread of the fire to highly flammable Reynobond PE cladding panels manufactured by the Company and used in the building’s construction. On that same day, Reuters published an article revealing that sales managers at Arconic were aware that flammable panels would be distributed for use at Grenfell Tower but that the Company claimed it was not its role to decide what was compliant with local building regulations. On June 26, 2017, the Company issued a press release announcing that 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. Following this news, Arconic’s stock price dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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