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Shareholders Class Action Filed Against United States Steel Corporation

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired United States Steel Corporation ("U.S. Steel") (NYSE: X) securities between November 1, 2016 and April 25, 2017, both dates inclusive (the "Class Period").

United States Steel Corporation investors may receive additional information about the case by clicking the link "Join this Class Action" above.

U.S. Steel is an integrated steel producer of flat-rolled and tubular products, with major production operations in North America and Europe.  The shareholder class action complaint alleges that U.S. Steel and certain of its senior executive officers made materially false and misleading statements to investors about the Company’s outlook and expected financial performance during the Class Period.  

As detailed in the complaint, during Fiscal 2016 U.S. Steel represented to investors that it was transforming the Company through “two phases of a focused execution on our stockholder value creation strategy.”  Additionally, during the Class Period U.S. Steel and certain senior executive officers made a series of positive statements to investors about the Company’s ability to benefit from improving market conditions.  For example, on January 31, 2017, U.S. Steel’s Chief Executive Officer (“CEO”) stated that the Company was “starting 2017 with much better market conditions” than it faced at the beginning of 2016, and that U.S. Steel “will benefit from improved market conditions.”  

Then, on April 25, 2017, U.S. Steel announced disappointing First Quarter Fiscal 2017 financial and operational results – despite improved market conditions. Specifically, the Company reported a quarterly net loss of $180 million (or ($1.03) per share), adjusted EBITDA of $74 million, and negative operating cash flow of $135 million.  Also on April 25, 2017, the Company significantly reduced its net earning guidance from $535 million to $260 million for Fiscal 2017.

Following this news, shares of the Company’s stock fell $8.33 per share, or over 26.7%, to close on April 26, 2017 at $22.78 per share, on heavy trading volume.

If you are a member of the class described above, you may no later than July 3, 2017 move the Court to serve as lead plaintiff of the class, if you so choose.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7704 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com
 

Please complete this form and list your purchase and sale transaction(s) for United States Steel Corporation ("U.S.
Steel") (NYSE: X) securities between November 1, 2016 and April 25, 2017, both dates inclusive (the "Class Period"):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of United States Steel Corporation prior to the class period?
Are you a current or former employee of United States Steel Corporation?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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