SAN DIEGO, Dec. 3, 2019 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of AK Steel Holding Corporation
(NYSE: AKS) ("AK Steel") breached their fiduciary duties in
connection with the proposed sale of the Company to
Cleveland-Cliffs Inc. ("Cliffs")
On December 3, 2019, AK Steel
announced that it had signed a definitive merger agreement with
Cliffs. Under the terms of the merger agreement, AK Steel
shareholders will receive 0.40 shares of Cliffs common stock for
each outstanding share of AK Steel common stock they own. AK Steel
shareholders will be subject to the future price fluctuation of
Cliffs' stock price.
The investigation concerns whether the AK Steel board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for AK Steel
shares of common stock.
If you are a shareholder of AK Steel and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (firstname.lastname@example.org) at
619-814-4471. If emailing, please include a
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson Fistel, LLP