A lawsuit was filed by an investor in Arconic Inc (NYSE:ARNC) shares over potential wrongdoing at Arconic Inc was announced and NYSE:ARNC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/12/2017 -- An investor in shares of Arconic Inc (NYSE:ARNC) filed a lawsuit against certain directors at Arconic Inc in connection with statements made over a $500 million payment obligation.
Investors who purchased shares of Arconic Inc (NYSE:ARNC) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges that the defendants issued false statements about a $500 million payment obligation to prevent investors from infusing the board with new blood. The plaintiff claims that for the board to mislead shareholders into believing such a threat exists when, in fact, it does not, is the epitome of bad faith manipulation of the shareholder vote.
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.
Shares of Arconic Inc (NYSE:ARNC) closed on July 11, 2017 at $24.02 per share.
Those who purchased shares of Arconic Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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