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CLASS ACTION ANNOUNCEMENT: Kessler Topaz Meltzer & Check, LLP Announces Securities Class Action Lawsuit Filed Against Norfolk Southern CorporationThe law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of Ohio (Eastern Division) against Norfolk Southern Corporation ("Norfolk Southern") (NYSE: NSC). The action charges Norfolk Southern with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, and prospects. As a result of Norfolk Southern's materially misleading statements and omissions to the public, Norfolk Southern's investors have suffered significant losses. CLICK HERE TO SUBMIT YOUR NORFOLK SOUTHERN LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/norfolk-southern-corporation?utm_source=PR&utm_medium=link&utm_campaign=nsc&mktm=r LEAD PLAINTIFF DEADLINE: MAY 15, 2023 CLASS PERIOD: OCTOBER 28, 2020 THROUGH MARCH 3, 2023
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
Kessler Topaz is one of the world's foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
NORFOLK SOUTHERN'S ALLEGED MISCONDUCT
On February 3, 2023, a Norfolk Southern Railway Company general merchandise freight train derailed 38 railcars in East Palestine, Ohio, leaving behind what the Associated Press called "a mangled and charred mass of boxcars and flames." The derailed equipment included 11 tank cars carrying hazardous materials that subsequently ignited, fueling fires that damaged an additional 12 non-derailed railcars. On February 6, 2023, responders engaged in a controlled detonation and burn of the vinyl chloride, spewing massive volumes of chemicals into the vicinity. The chemicals released from the derailment entered the air and water of the surrounding residential areas, the closest of which were only 1,000 feet from the site of the accident. Following this news, the price of Norfolk Southern stock fell on February 6, 2023 - down $5.66 per share from its closing price on Friday, February 3, 2023. Then, on February 8, 2023, after lifting a previously issued evacuation order, Ohio Governor Mike DeWine stated that Norfolk Southern was "the one[] who created the problem. It's their liability. They're the ones who ought to pay for it." Following their return, numerous residents reported hazardous air quality and other health and environmental concerns. Following this news, the price of Norfolk Southern stock fell on February 9, 2023, closing at $238.98 per share - down $7.64 per share from its closing price of $246.62 per share on February 8, 2023. Thereafter, Norfolk Southern's stock price continued to drop in response to several other reports and public officials who spoke out about Norfolk Southern's liability for all of the harm and damage it had caused. On March 4, 2023, another Norfolk Southern freight train derailed near Springfield, Ohio. Two days later, on March 6, 2023, Norfolk Southern announced a 6-part plan to improve operational safety. Following this news, the price of Norfolk Southern stock fell again on March 6 and March 7, 2023, closing at $215.18 per share - down $13.21 per share from its closing price of $228.39 on Friday, March 3, 2023.
WHAT CAN I DO?
CLICK HERE TO SIGN UP FOR THE CASE
WHO CAN BE A LEAD PLAINTIFF?
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
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