Investigation announced for Long-Term Investors in United States Steel Corporation (NYSE: X)

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at United States Steel Corporation

Investors who purchased shares of United States Steel Corporation (NYSE: X) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain United States Steel Corporation directors breached their fiduciary duties and caused damage to the company and its shareholders.

Pittsburgh, PA based United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe.

United States Steel Corporation reported that its annual Total Revenue declined from $21.06 billion in 2022 to over $18.05 billion in 2023, and that its Net Income declined from over $2.52 billion in 2022 to $895 million in 2023.

On December 18, 2023, United States Steel Corporation 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, United States Steel Corporation'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 United States Steel Corporation and Nippon was subject to more than "customary" conditions, including National Security conditions.
Then, on May 21, 2024, United States Steel Corporation disclosed that the deal with Nippon is, indeed, subject to National Security conditions and not merely "customary conditions."

Shares of United States Steel Corporation (NYSE: X) declined to $35.60 per share on May 23, 2024.

Those who purchased shares of United States Steel Corporation (NYSE: X) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.