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Kirby McInerney LLP is Investigating Potential Shareholder Claims Against Cleveland-Cliff Inc. (CLF)
CLFCliffs(CLF) GlobeNewswire News Room·2025-05-29 00:00

Group 1 - Cleveland-Cliffs is under investigation by Kirby McInerney LLP for potential violations of federal securities laws and unlawful business practices [1] - On May 7, 2025, Cleveland-Cliffs reported a larger than expected adjusted loss and an 11% year-over-year revenue decline to $4.63 billion [2] - The company plans to fully or partially idle six steel plants due to negative effects from underperforming non-core assets and lower index prices [2] Group 2 - Cleveland-Cliffs' CEO stated the company is repositioning its portfolio away from non-core markets and focusing on the automotive industry [2] - Following the financial results announcement, Cleveland-Cliffs' share price dropped from $8.49 to $7.15, a decline of $1.34 per share [2]