INVESTOR ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Cleveland-Cliffs Inc. – CLF

Core Viewpoint - Cleveland-Cliffs Inc. is under investigation for potential securities fraud following a disappointing financial report that revealed a larger than expected adjusted loss and a significant revenue decline [1][3]. Financial Performance - Cleveland-Cliffs reported a first-quarter revenue decline of 11% year-over-year, totaling $4.63 billion [3]. - The company announced plans to fully or partially idle six steel plants due to underperforming non-core assets and the impact of lower index prices from late 2024 and early 2025 [3]. Stock Market Reaction - Following the financial results announcement, Cleveland-Cliffs' stock price dropped by $1.34 per share, or 15.78%, closing at $7.15 per share on May 8, 2025 [4]. Company Strategy - The CEO indicated a strategic shift to reposition the company's portfolio away from non-core markets, such as rail and high-carbon sheet products, and towards the automotive industry [3].