PITTSBURGH, Feb. 15, 2017 /PRNewswire/ -- United States Steel
Corporation (NYSE: X) today issued the following statement in
response to the company's decision to file a motion to withdraw
without prejudice the trade secrets claim from consideration in the
Section 337 complaint with the U.S. International Trade Commission
(ITC). The company will continue to vigorously litigate
the Section 337 claims related to antitrust and false
designation.
The company's statement follows:
"We remain committed in our efforts to seek relief for each of
the claims alleged in the Section 337 complaint, but today believe
this was our best course of action. We continue to pursue a
review before executive and judicial bodies of the inequities of
the statutes that were enacted before the dawn of the Internet age
and the substantial threats posed by cyber espionage.
"While Section 337 offers U.S. companies the ability to seek
relief against unfair methods of competition and the items being
unfairly imported as a result of those actions, the decade's old
law never contemplated the technological advancements over the past
50 years that have led to the proliferation of cyber theft and
other cyber crimes committed against American companies.
"Today, businesses are more connected and data-centric than ever
before, so they are more vulnerable to cyber theft. Whether
the stolen data is proprietary trade secrets, business strategy or
personal data related to customers, when a cyber attack by a
state-sponsored actor is carried out upon our corporations, the
unbearable burden for response is currently borne by the corporate
victim. This threatens our nation's economic health and our
security.
"When we filed the case, we highlighted the significant cyber
threat every company faces, and we began a dialogue about the need
to reform our antiquated laws. We have made strides in that
arena, but we believe more cooperation and collaboration is needed
between the federal government and the private sector to address
the continued threat of malicious cyber crimes and to provide
reasonable legal avenues available for corporate victims to seek
remedies. When there is active movement in this direction, we
will be able to evaluate the best next steps for our trade secrets
claim."
United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel
producer and Fortune 250 company with major operations in
the United States and Central
Europe. For more information about U. S. Steel, please visit
www.ussteel.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/united-states-steel-corporation-announces-action-on-section-337-case-300408042.html
SOURCE United States Steel Corporation