Shares of Arconic dropped more than 6.5 percent in the premarket Monday after Reuters reported the U.S. company formerly called Alcoa knowingly supplied flammable panels for use at London’s Grenfell Tower.
Reuters said six emails sent to and by an Arconic manager raised questions about why the company supplied the combustible panels despite a public warning that they posed a risk.
Grenfell Tower, which is more than 200 feet tall, was badly damaged in a June 14 fire that killed at least 79 people. London police said Friday the fire started after an appliance malfunction, adding they were considering manslaughter charges over the disaster.
Arconic, a former Dow Jones industrial index component, did not immediately respond to CNBC’s request for comment. It told Reuters in a statement it’s not up to the company to decide what’s compliant with local building regulations.
Shares of Arconic had been on a tear entering Monday’s session, rising 37.8 percent for the year.