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Kirby McInerney LLP is Investigating Potential Shareholder Claims Against Cleveland-Cliff Inc. (CLF)

1. Cleveland-Cliffs faces investigation for potential violations of federal securities laws. 2. The company reported a larger-than-expected loss and 11% revenue decline. 3. Plans to idle six steel plants were announced due to underperforming assets. 4. The stock price dropped from $8.49 to $7.15 following the news. 5. CEO signals shift towards automotive sector, moving away from non-core markets.

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FAQ

Why Bearish?

Cleveland-Cliffs' significant revenue decline and forecasted losses could lead to ongoing sell-offs, similar to past instances where poor earnings reports resulted in sustained stock declines.

How important is it?

The ongoing investigation and resulting operational changes may significantly affect investor confidence and stock performance, creating potential volatility in the near term.

Why Short Term?

Immediate investor sentiment is negatively impacted due to the investigation and poor earnings, but may stabilize as the situation evolves.

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XNUEAKS
NEW YORK, May 28, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that the firm is investigating potential claims against Cleveland-Cliffs Inc. (“Cleveland-Cliffs” or the “Company”) (NYSE:CLF). The firm’s ongoing investigation concerns whether Cleveland-Cliffs and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. [Click here to learn more about the investigation] On May 7, 2025, Cleveland-Cliffs issued a press release reporting its financial results for the first quarter of 2025. Among other items, Cleveland-Cliffs reported a larger than expected adjusted loss and an 11% year-over-year revenue decline to $4.63 billion. The Company also announced plans to fully or partially idle six steel plants. Cleveland-Cliffs’ Chief Executive Officer attributed the operational changes to negative effects from underperforming non-core assets and the lagging effect of lower index prices in late 2024 and early 2025 and said that the Company is repositioning its portfolio away from non-core markets, including rail, high-carbon sheet, and specialty plate products, and toward the automotive industry. On this news, the price of Cleveland-Cliffs shares declined by $1.34 per share, from $8.49 per share on May 7, 2025, to close at $7.15 on May 8, 2025. If you purchased or otherwise acquired Cleveland-Cliffs securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below to discuss your rights or interests with respect to these matters without any cost to you. [CONTACT FORM] Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. ContactsKirby McInerney LLPThomas W. Elrod, Esq.212-699-1180https://www.kmllp.cominvestigations@kmllp.com

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