Jones Day, Levi & Korsinsky Chided in U.S. Steel Investor Case

Jones Day and Levi & Korsinsky LLP should “take a step back” and “maybe count to 10" before their next interaction in a securities suit over allegedly misleading statements, a federal judge in Pennsylvania said.

U.S. Steel Corp.'s investors sought sanctions for what they described as the steel producer’s failure to fulfill its discovery obligations, but their request is “preposterous under the circumstances presented,” Judge Cathy Bissoon of the U.S. District Court for the Western District of Pennsylvania said in a text-only docket entry.

“Throughout this case, counsel for both parties have engaged in a pattern of ‘gotcha’ ...