is a boutique law firm handling complex and class action litigation, including shareholder derivative litigation, securities class actions, data breach and consumer class actions.

Current Securities Class Action Cases

Federman & Sherwood regularly posts press releases about new class action securities cases, which includes the class period and deadlines for appointment of lead plaintiffs.  Please review any of the case listings  below, and if you bought a security during the class period, we invite you to return an investor certification to our office. Our link to an investor certification for any of the cases can be found below each respective press release on that company.  Once completed, please return to our office by email to rkh@federmanlaw.com or fax to (405) 239-2112. 

Current Cases

Arconic, Inc. [NYSE: ARNC]

Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Arconic, Inc.

Oklahoma City, OK (July 17, 2017) – On July 13, 2017, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against Arconic, Inc. (NYSE: ARNC). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is February 28, 2017 through June 26, 2017. More specifically, this litigation was filed because 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 titled “Why Grenfell Tower Burned: Regulators Put Cost Before Safety,” which described 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 titled “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 this news, Arconic’s share price fell $3.70 to close at $21.84 on June 27, 2017.

Plaintiff seeks to recover damages on behalf of all Arconic, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, September 11, 2017 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification. Once complete, please email this form to rkh@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.

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