Arconic Wins Dismissal of Grenfell Tower Fire Investor Suit (1)

Investors can’t pursue claims that Arconic Inc. hid the unsafe use of a company product linked to a deadly London fire, a federal judge in Pennsylvania said June 21.

Arconic’s Reynobond PE paneling was part of Grenfell Tower’s exterior cladding system and allegedly contributed to the fire’s speedy growth. But investors didn’t “adequately, plausibly plead” that Arconic hid or misled them about sales of Reynobond PE for unsafe uses, the U.S. District Court for the Western District of Pennsylvania said. It dismissed the case without prejudice.

The June 2017 fire killed 71 people and injured an additional 70. Arconic’s share ...