July 13, 2017 / 9:14 PM / 8 days ago

BRIEF-Arconic is sued in U.S. over fatal fire in London's Grenfell Tower

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July 13 (Reuters) - Arconic shareholder files securities fraud lawsuit against company over fatal grenfell tower fire in london -- u.s. Court filing LAWSUIT FILED BY MICHAEL BRAVE IN MANHATTAN FEDERAL COURT AGAINST ARCONIC, ITS FORMER CEO KLAUS KLEINFELD, AND CFO KENNETH GIACOBBE PLAINTIFF ALLEGES THAT ARCONIC MADE FALSE AND MISLEADING STATEMENTS, OR FAILED TO TIMELY DISCLOSE MATTERS, RELATED TO THE FIRE PLAINTIFF SAYS ARCONIC'S CONDUCT SIGNIFICANTLY INCREASED THE RISK OF PROPERTY DAMAGE RELATED TO THE CLADDING PANELS PLAINTIFF SAYS SHAREHOLDERS SUFFERED LOSSES ATTRIBUTABLE TO ARCONIC'S CONDUCT AS A RESULT OF THE LONDON FIRE PLAINTIFF SAYS ARCONIC FAILED TO PROPERLY DISCLOSE ITS HAVING SUPPLIED FLAMMABLE CLADDING PANELS FOR USE IN CONSTRUCTION PLAINTIFF SEEKS CLASS-ACTION STATUS AND UNSPECIFIED DAMAGES ON BEHALF OF ARCONIC INVESTORS

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