NEW YORK, April 27, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of United States Steel Corporation ("U.S. Steel" or the "Company") (NYSE: X). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether U.S. Steel and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 25, 2017, post-market, U.S. Steel announced the Company's earnings for the first quarter of 2017, disclosing a first quarter 2017 net loss of $180 million, or $1.03 per diluted share, which included a disparaging adjustment of $35 million, or $0.20 per diluted share, associated with a loss on the shutdown of certain tubular assets.
On this news, U.S. Steel's share price fell $8.33, or 26.78%, to close at $22.78 on April 26, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP