According to the suit, Arconic and its senior executives failed to disclose offers to purchase all of the outstanding shares of Arconic common stock at a material premium, far above the Company’s then-current stock price, and at the same time repurchased millions of Arconic shares at significantly below the offer price. These failures to disclose material non-public information kept the price of Arconic common stock artificially low. Arconic had an obligation to either disclose that it had received a formal acquisition offer from Apollo Global Management, Inc. or abstain from trading in its own securities.

From April 19, 2022 through the Company’s announcement that it had entered into an agreement to be acquired by Apollo at $30 per share, Arconic repurchased millions of Arconic shares at an average price of below $23 per share.

Investors who sold Arconic securities between April 19, 2022 through May 3, 2023, may no later than March 31, 2025, seek to be appointed as a lead plaintiff representative of the class.