Energy News / Shareholders Foundation, Inc.

Lawsuit Filed for Investors Who Purchased Arconic Inc Depositary Shares Each Representing a 1/10 Interest in 5.375% Class B Mandatory Convertible Preferred Stock

Via: ReleaseWire

Updated 12:15 PM CDT, Wed, November 01,2017

A lawsuit was filed on behalf of investors in Arconic Inc (NYSE:ARNC) B Preferred Shares over alleged securities laws violations. Deadline: December 8, 2017. Arconic Inc (NYSE:ARNC) B Preferred Shares investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 11/01/2017 -- An investor, who purchased shares of Arconic Inc (NYSE:ARNC) Depositary Shares, each representing a 1/10 interest in a share of 5.375% Class B Mandatory Convertible Preferred Stock, Series 1, par value $1, liquidation preference $500 per share, filed a lawsuit over alleged violations of Federal Securities Laws by Arconic Inc in connection with Arconic's Class B Preferred Shares September 18, 2014 initial public stock offering ("IPO")

Investors who purchased Arconic Inc (NYSE:ARNC) Class B Preferred Shares pursuant and/or traceable to the September 18, 2014 IPO, you have certain options and for certain investors are short and strict deadlines running. Deadline: December 8, 2017. Arconic Class B Preferred Shares investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

According to the complaint the plaintiff alleges on behalf of investors who purchased or otherwise acquired Arconic Inc (NYSE:ARNC) Depositary Shares, each representing a 1/10 interest in a share of 5.375% Class B Mandatory Convertible Preferred Stock, Series 1, par value $1, liquidation preference $500 per share ("Class B Preferred Shares"), pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with Arconic's September 18, 2014 IPO, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Arconic knowingly supplied its highly flammable Reynobond PE (polyethylene) cladding panels for use in construction; (ii) the foregoing conduct significantly increased the risk of property damage, injury and/or death in buildings constructed with Arconic√Ęs Reynobond PE panels; and (iii) as a result of the foregoing, Arconic√Ęs public statements were materially false and misleading at all relevant times.

Those who purchased Arconic Inc (NYSE:ARNC) common or preferred stock during the Class Period and/or purchased or otherwise acquired Arconic Class B Preferred Shares pursuant and/or traceable to the September 18, 2014 IPO 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

For more information on this press release visit:
http://www.sbwire.com/press-releases/lawsuit-filed-for-investors-who-purchased-arconic-inc-depositary-shares-each-representing-a-110-interest-in-5375-class-b-mandatory-convertible-preferred-stock-885704.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com