ARNC.US
id: 697, Created by Stan Vick, Scout
Arconic (ARNC) Investors $74M Settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
Claim payout
W.D. Pennsylvania
Court2:17- cv-01057
Case number04 Nov 2013
Class period Start27 Jun 2017
Class period End21 Aug 2023
Claim deadlineArconic (ARNC) agreed to settle $74 million with Investors to avoid further litigation.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:
- Arconic knowingly supplied its highly flammable Reynobond PE (polyethylene) cladding panels for use in construction;
- the foregoing conduct significantly increased the risk of property damage, injury and/or death in buildings constructed with Arconic’s Reynobond PE panels; and
- as a result of the foregoing, Arconic’s public statements were materially false and misleading at all relevant times.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.18
Filing date
13 July 2017
Lead plaintiff
Iron Workers Local 580 – Joint Funds, Ironworkers Locals 40, 361 & 417 – Union Security Funds, Janet L. Sullivan
Attorney
Curtis V. Trinko LLP (New York, NY), Law Offices of Alfred G. Yates (Pittsburgh, PA), Pomerantz LLP (New York, NY), Robbins Geller Rudman & Dowd LLP (Melville, NY)
Defendants
Klaus Kleinfeld, Robert S. Collins, William F. Oplinger, Arthur D. Collins, Jr., Kathryn S. Fuller, Judith M. Gueron, Michael G. Morris, E. Stanley O’Neal, James W. Owens, Patricia F. Russo, Sir Martin Sorrell, Ratan N. Tata, Ernesto Zedillo
Judge
Hon. Mark R. Hornak
Administrator
A.B. Data Ltd
Court hearing date
09 August 2023
Exclusion deadline
19 July 2023
Objection deadline
19 July 2023
Hearing deadline
19 July 2023
+$74,000,000
Total Settlement Amount