Alcoa Case 05/06/2008

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Company Name(s): 
Alcoa
Case Name: 
Alcoa Case 05/06/2008
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: AA
Lawsuit Overview
Type of Lawsuit: 
Stockholder Derivative Action
Date Filed: 
05/06/2008
Court of Filing: 
U.S. District Court for the Western District of Pennsylvania
Summary: 

On Tuesday, May 6th, the Hawaii Structural Ironworkers Pension Trust Fund has filed a derivative action against Alcoa Inc. and 20 of its officers in the U.S. District Court for the Western District of Pennsylvania over hundreds of millions of dollars in illegal bribes the company allegedly paid to government officials in Bahrain. The Fund acusses Alcoa Inc. of breach of fiduciary duty, abuse of control, corporate waste, and unjust enrichment.