Levi & Korsinsky Initiates Class Action for Arconic Corporation Shareholders Following Alleged Securities Fraud

Legal Action for Arconic Corporation Shareholders

Levi & Korsinsky, LLP, a prominent law firm, has announced a class action lawsuit on behalf of investors in Arconic Corporation, a publicly traded company listed under the ticker symbol ARNC. This move follows concerns regarding alleged securities fraud that purportedly affected the company's shareholders between April 19, 2022, and May 3, 2023.

The firm aims to represent all individuals who sold Arconic's common stock during this specified period and believes that these investors may have suffered significant financial losses due to the company’s misleading disclosures and actions.

Allegations of Misrepresentation

According to the complaint, the defendants—executives of Arconic Corporation—made several false and misleading statements regarding the company’s share repurchase programs. They asserted that these buybacks were made in compliance with Rule 10b5-1 and Rule 10b-18, which govern securities trading and share repurchases.

However, it has been asserted that Arconic conducted share repurchases while possessing material nonpublic information, indicating that their buying activities did not align with the legal requirements of these rules. Furthermore, while the company stated that it was continuously engaging in share repurchases, they were allegedly restricted from doing so due to ongoing negotiations with Apollo, a conflict that was not disclosed to the investors.

These misrepresentations led to a significant impact on the market, particularly when investors relied on the company's disclosed intentions without having the full truth, which included ongoing negotiations that could have affected share value.

Steps for Affected Investors

Investors who believe they might have been impacted by these deceptive practices are being encouraged to take action. The deadline to request lead plaintiff status is set for March 31, 2025. Even if an investor does not wish to serve as a lead plaintiff, they may still qualify for a share in any recovery resulting from the lawsuit without incurring any costs or obligations.

Levi & Korsinsky emphasizes that there are no upfront fees involved for class members, underscoring their commitment to providing legal support without the burden of initial financial concerns for the plaintiffs.

Why Choose Levi & Korsinsky?

Diluca & Korsinsky have built a solid reputation over the past two decades, successfully recovering hundreds of millions of dollars for their clients and ranking consistently among the leading firms in securities litigation in the United States. With a dedicated team of over 70 professionals, they specialize in complex legal issues, bringing extensive experience and knowledge to their clients.

If you sold shares of Arconic Corporation during the designated time frame and are interested in participating in this class action lawsuit, further information can be obtained by accessing the firm’s official website or contacting them directly via email or phone.

Through these legal proceedings, the firm aims to hold accountable those responsible for the alleged securities violations and ensure that investors receive fair compensation for their losses.

For any further inquiries, investors can reach out to:

- Joseph E. Levi, Esq. at [email protected] or call (212) 363-7500.

This class action serves as an important step towards transparency and accountability in the financial markets, reinforcing the necessity for companies to conduct their operations with integrity and honesty towards their investors.