About the Litigation

On January 6, 2025, Nippon Steel and U. S. Steel jointly filed two lawsuits to remedy the ongoing illegal interference with Nippon Steel’s acquisition of U. S. Steel.

Nippon Steel and U. S. Steel remain confident that the transaction is the best path forward to secure the future of U. S. Steel – and we will vigorously defend our rights to achieve this objective.

The litigation involves two cases:

The first suit challenges the President’s order to prohibit the transaction and the review process and decision of the Committee on Foreign Investment in the United States (“CFIUS”) as violating constitutional due process and statutory rights as well as exceeding their statutory authority by basing the process and decision on purely political grounds rather than credible evidence of any national security concern.

The second suit is against Cleveland-Cliffs (“Cliffs”), Cliffs CEO Lourenco Goncalves and David McCall (President of the USW International) for engaging in a coordinated series of anticompetitive and racketeering activities illegally designed to prevent any party other than Cliffs from acquiring U. S. Steel as part of an illegal campaign to monopolize critical domestic steel markets.

The litigation brought by the Companies will establish that:

President Biden ignored the rule of law to gain favor with the USW and support his political agenda.
As a result of President Biden’s undue influence to advance his political agenda, CFIUS failed to conduct a good faith, national security-focused regulatory review process; and
Cliffs, in collusion with the leadership of the USW, has sought to prevent the transaction from closing and any party other than Cliffs from acquiring U. S. Steel, and to otherwise injure U. S. Steel’s ability to compete, all as part of a broader illegal campaign to monopolize the domestic steel markets.
These legal actions are necessary to protect Nippon Steel’s and U. S. Steel’s right to proceed with their Transaction, free from illegal and improper political and anticompetitive interference. Given the obstruction thus far that prevented closing the transaction, Nippon Steel and U. S. Steel intend to press ahead with both the Petition and Complaint as swiftly as practicable and are pursuing both cases on an expedited basis.

Litigation Materials

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