ATI sued for inflating its stock price
ATI was sued two weeks ago because of false and misleading statements. The complaint charges ATI and certain of its officers and directors with violations of the Securities Exchange Act of 1934. As a result of this ATI's stock traded at inflated levels, allowing ATI's top officers and directors to sell or otherwise dispose of more than $54 million worth of their own shares at artificially inflated prices.
Here's a look at some facts from the complaint which were known by ATI but concealed from the investing public during the class period which started on October 7, 2004 and ended on June 23, 2005: