Alcoa Execs Face Shareholder Suit Alleging Bahrain Bribes

Law360, New York (June 21, 2012, 8:44 PM EDT) -- An Alcoa Inc. shareholder sued the company in Pennsylvania federal court Tuesday, saying its board refused to take action over allegations that the company paid hundreds of millions of dollars in illegal bribes to government officials in Bahrain, damaging the company and hurting stockholders.

Shareholder Catherine Rubery filed the suit, saying that she had asked the board to investigate and punish the employees responsible for the bribery scheme, which is currently under investigation by the U.S. Department of Justice, but the board said it refused to...
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