US Steel, Investors Reach $40M Deal To End Stock Row
By Emilie Ruscoe (May 23, 2022, 8:16 PM EDT) -- Investors in Pittsburgh-based steel producer U.S. Steel have asked a Pennsylvania federal judge to give an initial nod to a $40 million cash deal that would end their claims the company hurt investors by concealing lost production capacity.
In a motion for preliminary approval of a settlement of the consolidated proposed class action, the investors told U.S. District Judge Cathy Bissoon that "extensive" mediation had yielded an agreement that is "an excellent result for the settlement class, particularly when viewed in light of the risks of further litigation and trial."
The settlement talks spanned three of the five years since the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!