Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Arconic    ARNC

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Arconic Inc : Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Arconic, Inc. of Class Action Lawsuit and Upcoming Deadline - ARNC

share with twitter share with LinkedIn share with facebook
share via e-mail
08/12/2017 | 04:16am CEST

NEW YORK, NY / ACCESSWIRE / August 11, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Arconic, Inc. (''Arconic'' or the ''Company'') (NYSE: ARNC) and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 17-cv-05312, is on behalf of a class consisting of investors who purchased or otherwise acquired Arconic securities, seeking to recover compensable damages caused by defendants' violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Arconic securities between February 28, 2017, and June 26, 2017, both dates inclusive, you have until September 11, 2017, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

[Click here to join this class action]

Arconic Inc. is a global provider of lightweight multi-material solutions, focused on the aerospace market in addition to serving the automotive, industrial gas turbine, commercial transportation, and building and construction markets. The Company also provides titanium, aluminum, nickel-based super alloy, and specialty alloy solutions.

The Complaint alleges that throughout the Class Period, 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's Reynobond PE panels; and (iii) as a result of the foregoing, Arconic's public statements were materially false and misleading at all relevant times.

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, The New York Times published an article 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, Reuters published an article 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 issued a press release announcing 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.

On these disclosures, Arconic's common share price fell $3.70, or 14.49%, to close at $21.84 on June 27, 2017.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

SOURCE: Pomerantz LLP

© Accesswire 2017
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on ARCONIC
07/20THE SCORE : The Business Week in 7 Stocks
07/17TODAY'S RESEARCH REPORTS ON STOCKS T : MER Telemanagement Solutions and Arconic
07/17ARCONIC : to Host Webcast and Announce Second Quarter 2018 Results
07/17ARCONIC : Signs Its Largest Multiyear Supply Contract With Boeing
07/17ARCONIC : Unveils Advanced Titanium Alloy for Higher Temperature Aerospace Appli..
07/16ARCONIC : Bank of America and Arconic climb while Noble Energy skids
07/16S&P 500 MOVERS : Ads, arnc
07/16ARCONIC : Life! Golf Tournament set for Aug. 6
07/16ARCONIC : Unveils Advanced Titanium Alloy for Higher Temperature Aerospace Appli..
07/16LOCKHEED MARTIN AND ARCONIC COLLABOR : Companies Announce Two-Year Joint Develop..
More news
News from SeekingAlpha
07/22'What Are We Gonna Do Now?' 
07/21Amazon, Toyota, Alcoa attempt to counter tariffs 
07/20Alcoa Lowers Its Full-Year Outlook After A Strong Quarter 
07/20Beauty Lies In The Eye Of The Investor - Cramer's Mad Money (7/19/18) 
07/19ENERGY/MATERIALS - TOP 5 GAINERS / L : 00 pm (07/19/2018) 
Financials ($)
Sales 2018 13 837 M
EBIT 2018 1 313 M
Net income 2018 579 M
Debt 2018 4 664 M
Yield 2018 1,27%
P/E ratio 2018 15,29
P/E ratio 2019 11,67
EV / Sales 2018 1,00x
EV / Sales 2019 0,96x
Capitalization 9 188 M
Duration : Period :
Arconic Technical Analysis Chart | ARNC | US03965L1008 | 4-Traders
Technical analysis trends ARCONIC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 22,5 $
Spread / Average Target 18%
EPS Revisions
Charles P. Blankenship Chief Executive Officer & Director
John C. Plant Chairman
Ken Giacobbe Chief Financial Officer & Executive Vice President
Raymond J. Kilmer Chief Technology Officer & Executive VP
Arthur D. Collins Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ARCONIC-30.17%9 256
NORSK HYDRO-27.19%11 813