US Lawyers Set Sights on Manufacturer in UK High-Rise Fire
The fire that killed 79 people in London's Grenfell Tower was a U.K. tragedy, but it's also getting the attention of the securities plaintiffs bar in the United States. That could spell legal trouble for Arconic, the New York-based company that made the exterior paneling being blamed for the fire's ferocity—and potentially for its directors and officers.
June 27, 2017 at 03:44 PM
4 minute read
The fire that killed 79 people in London's Grenfell Tower was a U.K. tragedy, but it's also getting the attention of the securities plaintiffs bar in the United States. That could spell legal trouble for Arconic, the New York-based company that made the exterior paneling being blamed for the fire's ferocity—and potentially for its directors and officers.
This week Pomerantz; Goldberg Law Group, Bronstein, Gewirtz & Grossman and other firms all announced they were investigating potential shareholder claims related to the disaster. Arconic, meanwhile, announced it would halt sales of the paneling.
Bronstein's press release cited a June 24 report from The New York Times noting that Arconic's U.K. marketing resources for the panels contained a less thorough safety warning than what was offered in other countries. After the story was published the company's stock dropped by more than 11 percent, the firm said.
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