April 21, 2017 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Arconic Inc (NYSE:ARNC) was announced over potential breaches of fiduciary duties by certain officers and directors at Arconic Inc.
The investigation by a law firm concerns whether certain Arconic Inc (NYSE:ARNC officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
New York based Arconic Inc.is engaged in lightweight metals engineering and manufacturing.
Arconic Inc reported that its annual Total Revenue declined from over $12.41 billion in 2015 to over $12.39 billion in 2016 and that its Net Loss increased from $157 million in 2015 to over $1.06 billion in 2016.
Shares of Arconic Inc (NYSE:ARNC) closed on April 21, 2017 at $26.00 per share.