Arconic (ARNC) M&A Case

The plaintiff has voluntarily dismissed the case, ending the lawsuit.

S.D. New York

Court

1:23-cv-05167

Case number

On May 4, 2023, Arconic Corporation (NYSE: ARNC) announced that it entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) in an all-cash transaction where Arconic shareholders will receive $30.00 per share in cash.

Taking the usual premium paid in such deals into account,  Investors of $ARNC may have reasons to suspect that the pricing terms of the M&A transaction with $APO are unfair and the proxy statement in favor of the transaction fails to disclose material information.

Case Status

Voluntary Dismissed

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Breach of Fiduciary duty,

Omissions

Suspected Party

Directors,

Management,

Shareholder,

Investment Bank,

Service Provider

Security Type

Stocks

Trade Direction

Long

Shock Event Date

05/04/2023

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