A lawsuit was filed on behalf of investors in Arconic Inc (NYSE:ARNC) shares over alleged securities laws violations.

San Diego, CA -- (SBWire) -- 08/30/2017 --An investor in NYSE:ARNC shares filed a lawsuit over alleged Securities Laws violations by Arconic in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Arconic Inc (NYSE:ARNC) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Arconic Inc (NYSE:ARNC) common shares between February 28, 2017, and June 26, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 28, 2017, and June 26, 2017 the Defendants made false and/or misleading statements and/or failed to disclose thatArconic knowingly supplied its highly flammable Reynobond PE (polyethylene) cladding panels for use in construction, that the foregoing conduct significantly increased the risk of property damage, injury and/or death in buildings constructed with Arconic's Reynobond PE panels, and that as a result of the foregoing, Arconic's public statements were materially false and misleading at all relevant times.

New York based Arconic Inc., formerly Alcoa Inc., is engaged in lightweight metals engineering and manufacturing. Arconic Inc reported that its annual Total Revenue declined from over $12.41 billion in 2015 to over $12.39 billion in 2016 and that its Net Loss increased from $157 million in 2015 to over $1.06 billion in 2016.

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, an article was published 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, an article was published 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.

On June 26, 2017, Arconic Inc announced 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.

Those who purchased shares of Arconic Inc (NYSE:ARNC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com