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United States Steel Corporation (X) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings

Business Wire 10-Jun-2024 10:00 AM

Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of United States Steel Corporation ("U.S. Steel" or "the Company") (NYSE:X). Investors who purchased United States Steel securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/X.

Investigation Details:

On December 18, 2023, U.S. Steel disclosed entry into an agreement to be acquired by Nippon Steel Corporation ("Nippon") in an all-cash transaction at $55.00 per share, subject to "customary" approvals and conditions. That same day, U.S. Steel's Chief Executive Officer sold $12 million worth of the Company's stock at prices between $49.87 and $50.17 per share, lower than the deal price of $55.00 per share. Then, on March 13, 2024, reports emerged that the deal between U.S. Steel and Nippon was subject to more than "customary" conditions, including a national-security review by the Committee on Foreign Investment in the United States ("CIFUS"). On this news, U.S. Steel's stock price fell $5.98 per share, or 12.8%, to close at $40.86 on March 13, 2024. On May 21, 2024, U.S. Steel confirmed that its acquisition by Nippon was indeed subject to CIFUS review.

What's Next?

If you are aware of any facts relating to this investigation or purchased United States Steel securities, you can assist this investigation by visiting the firm's site: bgandg.com/X. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Prior results do not guarantee similar outcomes.

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