LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of United States Steel Corporation (“U.S. Steel” or the “Company”) (NYSE: X) investors concerning the Company and its officers’ possible violations of federal securities laws.
On April 25, 2017, U.S. Steel disclosed a net loss of $180 million for the first quarter 2017, which included an unfavorable adjustment of $35 million, or $0.20 per diluted share. These disappointing results were primarily driven by the closing of tubular assets and fell well short of meeting analysts’ expectations for the Company. The Company also noted that U.S. Steel changed accounting methods on property and other items and the impact of the change is included in 2017 outlook.
On this news, shares of U.S. Steel fell sharply, over 26%, on April 26, 2017.
If you purchased U.S. Steel securities, have information or 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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