United States Steel Corporation
![](/siteFiles/SiteManager/interior_image_1903082818.jpg)
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: United States Steel Corporation |
Ticker: | Ticker: X |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against United States Steel Corporation (“US Steel” or the “Company”) (NYSE: X). The investigation concerns whether US Steel and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
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, the price of US Steel shares declined by $5.98, or approximately 12.8%, from $46.78 on March 12, 2024, to close at $40.86 per share on March 13, 2024.
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.”
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, the price of US Steel shares declined by $5.98, or approximately 12.8%, from $46.78 on March 12, 2024, to close at $40.86 per share on March 13, 2024.
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.”