Alcoa, a U.S. manufacturer of aluminum products, and the company’s board of directors were hit with a shareholder lawsuit on June 24 in Pennsylvania Court of Common Pleas for Allegheny County over the company’s proposed acquisition of Alumina Limited. The court action, filed by Feinstein Doyle Payne & Kravec and the Brualdi Law Firm on behalf of Keith Palmer, seeks to block the transaction based on alleged failure by the defendants to disclose material information related to potential conflicts of interest faced by company insiders. Counsel have not yet appeared for the defendants. The case is GD-24-006978, Palmer vs Alcoa Corporation etal.
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