NEW YORK, May 12, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of  Cleveland-Cliffs Inc. ("Cleveland-Cliffs" or the "Company") (NYSE: CLF). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Cleveland-Cliffs and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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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, Cleveland-Cliffs' stock price fell $1.34 per share, or 15.78%, to close at $7.15 per share on May 8, 2025.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:

Danielle Peyton

Pomerantz LLP

dpeyton@pomlaw.com

646-581-9980 ext. 7980

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SOURCE Pomerantz LLP