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Arconic is sued in U.S. over fatal London tower fire

Reuters  |  NEW YORK 

NEW YORK (Reuters) - A shareholder of Inc has filed a proposed class-action accusing the company of defrauding shareholders in connection with its having supplied cladding panels used at Grenfell Tower, the high-rise where dozens of people died last month in a fatal fire.

In a complaint filed in U.S. District Court in Manhattan, Michael Brave said shareholders suffered losses as a result of Arconic's failure to properly disclose its use of the "highly flammable" panels.

said on June 26 it would stop sales of the cladding panels in question for use in high-rise buildings.

(Reporting by Jonathan Stempel in New York; Editing by Jonathan Oatis)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 14 2017. 02:58 IST