Shuman Law Firm announces that it is investigating potential claims
against certain officers and directors of Cliffs Natural Resources, Inc.
("Cliffs" or the "Company") (Nasdaq: CLF).
The Firm's investigation relates toallegations raised in a class action
lawsuit against the Company relating to its disclosures regarding one of
its most important assets, an iron ore mine known as Bloom Lake. The
class action alleges that Bloom Lake was a premium asset and that
production at the mine could be increased even as production costs
decreased. The complaint also alleges that the defendants repeatedly
misled investors regarding the testing and sustainability of the
Company's dividend, which Cliffs dramatically increased by 123% on the
March 14, 2012. Once investors learned the truth regarding problems
relating to Bloom Lake and that the Company's dividend was neither
adequately tested nor sustainable, the price of Cliffs' stock dropped.
The price of Cliffs stock has fallen from a close of $69.50 on March 14,
2012 to a close of less than $18.00 per share as recently as May 16,
If you currently own Cliffs common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free
at (866) 974-8626 or email Mr. Shuman at firstname.lastname@example.org
or email Mr. Glenn at email@example.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
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