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 and Lead Plaintiff Deadline: July 3, 2017 - EconoTimes)
NEW YORK, May 25, 2017 -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against United States Steel Corporation (“U.S. Steel” or the “Company”) (NYSE:X) and certain of its officers, on behalf of shareholders who purchased U.S. Steel securities between November 1, 2016 and April 25, 2017, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/x.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and failed to disclose material adverse information about its outlook and expected financial performance. These false statements and omissions kept the U.S. Steel stock price trading at artificially inflated prices during the Class Period.
On April 25, 2017, after-market hours, U.S. Steel revealed 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 the loss on the shutdown of certain tubular assets. Zacks Investment Research surveyed analysts, looking for earnings of $.30 per share. Following this news, U.S. Steel stock dropped over 26% during intra-day trading on April 26, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/x or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in U.S. Steel you have until July 3, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | [email protected]
