Pomerantz LLP has filed a class action lawsuit against Arconic Corporation (ARNC) alleging securities fraud. The lawsuit claims that Arconic and its officers failed to disclose a potential acquisition offer from Apollo Global Management while simultaneously conducting stock buybacks, which artificially deflated the company's stock price. On May 4, 2023, Arconic announced an all-cash acquisition by Apollo at $30.00 per share, causing the stock to jump 28.3% from $22.55 to $28.93.