NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against United States Steel Corporation (“US Steel” or the “Company”) (NYSE: X) on behalf of US Steel stockholders. Our investigation concerns whether US Steel has violated the federal securities laws and/or engaged in other unlawful business practices.
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On December 18, 2023, US Steel disclosed that it had entered 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, US Steel’s CEO sold $12 million worth of the Company’s stock at $49.87 to $50.17 per share, at the high, but $5.00 below the deal price of $55.00 per share.
Then, on March 13, 2024, reports emerged that the deal between US Steel and Nippon was subject to more than “customary” conditions, including National Security conditions.
On this news, US Steel’s stock price fell $5.98, or 12.8%, to close at $40.86 per share on March 13, 2024, thereby injuring investors.
Then, on May 21, 2024, US Steel disclosed that the deal with Nippon is, indeed, subject to National Security conditions and not merely “customary conditions.”
If you purchased or otherwise acquired US Steel shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
