July 13, 2017 / 9:24 PM / 3 months ago

Arconic is sued in U.S. over fatal London tower fire

NEW YORK, July 13 (Reuters) - A shareholder of Arconic Inc has filed a proposed class-action lawsuit accusing the company of defrauding shareholders in connection with its having supplied cladding panels used at Grenfell Tower, the London high-rise where dozens of people died last month in a fatal fire.

In a complaint filed in U.S. District Court in Manhattan, Michael Brave said shareholders suffered losses as a result of Arconic’s failure to properly disclose its use of the “highly flammable” panels.

Arconic said on June 26 it would stop sales of the cladding panels in question for use in high-rise buildings. (Reporting by Jonathan Stempel in New York; Editing by Jonathan Oatis)

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