The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action, (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional information.

If you are a Settlement Class Member, your legal rights will be affected by this Settlement whether you act or do not act.

Please read the Notice carefully.

IF YOU PURCHASED OR OTHERWISE ACQUIRED (i) ARCONIC INC. (“ARCONIC” OR THE “COMPANY”) SECURITIES BETWEEN NOVEMBER 4, 2013, AND JUNE 27, 2017, INCLUSIVE, INCLUDING FOR THE AVOIDANCE OF DOUBT, ARCONIC DEPOSITARY SHARES, AND (ii) ARCONIC DEPOSITARY SHARES, EACH REPRESENTING A 1/10th INTEREST IN A SHARE OF 5.375% CLASS B MANDATORY CONVERTIBLE PREFERRED STOCK, SERIES 1, PAR VALUE $1 PER SHARE, LIQUIDATING PREFERENCE $500 PER SHARE PURSUANT TO AND/OR TRACEABLE TO THE REGISTRATION STATEMENT AND PROSPECTUS ISSUED IN CONNECTION WITH ARCONIC’S SEPTEMBER 18, 2014, INITIAL PUBLIC PREFERRED STOCK OFFERING, AND ARE NOT OTHERWISE EXCLUDED FROM THE SETTLEMENT CLASS, YOU COULD RECEIVE A SETTLEMENT PAYMENT.

WHAT IS THIS CASE ABOUT?

On April 9, 2018, Lead Plaintiffs filed an Amended Class Action Complaint (the “Consolidated Complaint”). The Consolidated Complaint alleged that: (i) all Defendants violated Section 11 of the Securities Act of 1933; (ii) Arconic and the Individual Defendants violated Section 15 of the Securities Act of 1933; (iii) Defendants Arconic and Kleinfeld violated Section 10(b) of the Securities Exchange Act of 1934; and (iv) Defendant Kleinfeld violated Section 20(a) of the Securities Exchange Act of 1934. Lead Plaintiffs alleged that, during the period November 4, 2013, through June 23, 2017, inclusive, and in connection with Arconic’s September 18, 2014, preferred stock offering where it issued Depository Shares, each representing a 1/10th interest in a share of 5.375% Class B Mandatory Convertible Preferred Stock, Series 1, par value $1 per share, liquidation preference $500 per share (the “Preferred IPO”), Defendants misrepresented the safety and compliance of its Reynobond PE products. Lead Plaintiffs alleged that the prices of Arconic’s securities were artificially inflated as a result of the alleged misrepresentations and omissions. The Consolidated Complaint alleged that Lead Plaintiffs and Arconic stockholders suffered damages when, inter alia, it was revealed that Reynobond PE panels were installed in the Grenfell Tower in London, which caught fire and burned in June 2017, killing over 70 people and injuring at least 70 more.

Defendants have denied, and continue to deny, that they violated the federal securities laws or any law and maintain that their conduct was, at all times, proper and in compliance with all applicable laws. Defendants have denied, and continue to deny, each and all of the claims and contentions of wrongdoing alleged by Lead Plaintiffs in the Litigation, as well as any and all allegations of fault, liability, negligence, wrongdoing, damages, or lack of merit in their defenses whatsoever. Defendants continue to believe that the claims asserted against them in the Litigation are without merit. Among other things, Defendants specifically deny that they made any false or misleading statements or omissions. Defendants also deny that Arconic and the Individual Defendants acted with the requisite intent to commit a violation of the federal securities laws or any other law. Defendants further deny that the prices of Arconic securities were artificially inflated during the Settlement Class Period; that any Settlement Class Member has suffered any damages; or that the financial losses of any Settlement Class Member were caused by the revelation of any information that Defendants had allegedly previously not disclosed or misrepresented. Defendants maintain that their conduct was proper and that they have meritorious defenses to all of the claims that were raised or could have been raised in the Litigation.

THE SETTLEMENT HEARING

On August 9, 20203 the Court granted final approval of the Settlement and awarded Plaintiffs’ motion for Attorneys’ Fees and Expenses. The relevant Orders may be found on the Court Documents page of this website.

THE SETTLEMENT BENEFITS

The Settlement provides that, in exchange for the release of the Released Plaintiffs’ Claims and dismissal of the Litigation, Arconic and/or its insurers will pay $74,000,000 in cash to be distributed after Taxes, Tax Expenses, Notice and Administration Expenses, and Court-approved attorneys’ fees and expenses, pro rata, to Settlement Class Members who send in a valid Proof of Claim form pursuant to the Court-approved Plan of Allocation.

A Settlement Class Member’s actual recovery will be a proportion of the Net Settlement Fund (defined in the Notice), determined by that Claimant’s recognized loss (i.e., a claim proved by timely submission of a valid Proof of Claim and Release form) as compared to the total recognized losses of all Settlement Class Members. This proportional allocation is called “proration.” See a summary of the proposed Plan of Allocation beginning on Page 12 of the Notice for more information. The full proposed Plan of Allocation is available on this website in the “Notice” section.

FURTHER INFORMATION

This website and the Notice summarize the Settlement. For more details regarding the Settlement please reference the Settlement Agreement, or other documents filed in the case under “Court Documents” in the navigation at the top. You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement: