SAN
FRANCISCO, June 5, 2023 /PRNewswire/ -- Schubert
Jonckheer & Kolbe LLP is investigating potential shareholder
derivative claims on behalf of shareholders of Norfolk Southern
Corporation (NYSE: NSC).
On February 3, 2023, a Norfolk
Southern train derailed in East
Palestine, Ohio, releasing toxins and other combustible
liquids, which ultimately led to a controlled burn of toxic
chemicals. The derailment prompted the evacuation of residents from
the surrounding area. Upon returning to their homes, residents
reported hazardous air quality and other health and environmental
concerns.
On February 8, 2023, Ohio Governor Mike
DeWine stated that Norfolk Southern "created the problem"
and that it was "their liability" and "ought to pay for it." On
February 21, 2023, the U.S.
Environmental Protection Agency ordered Norfolk Southern to clean
up the site, stating that it "will pay for cleaning up the mess
they created and for the trauma they've inflicted on this
community." The National Transportation Safety Board's preliminary
report stated that the derailment was 100% preventable, and it
later opened a special investigation into Norfolk Southern's safety
practices because it had experienced five significant accidents
since December 2021. On March 14, 2023, Ohio Attorney General Dave Yost filed a complaint against Norfolk
Southern alleging a wide range of violations in connection with a
series of Norfolk Southern train derailments. And on March 16, 2023, purchasers of Norfolk Southern
stock filed securities fraud class action claims against the
company.
The Schubert Firm is investigating potential wrongdoing by
Norfolk Southern's officers and directors in connection with these
allegations. Norfolk Southern has already recognized $387 million in expenses related to these
matters.
If you own Norfolk Southern stock and wish to obtain
additional information about your legal rights, please
contact us today or visit our website
at
https://www.classactionlawyers.com/norfolk.
About Schubert Jonckheer & Kolbe LLP
Schubert
Jonckheer & Kolbe represents shareholders, employees, and
consumers in class actions against corporate defendants, as well as
shareholders in derivative actions against their officers and
directors. The firm is based in San
Francisco, and with the help of co-counsel, litigates cases
nationwide.
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SOURCE Schubert Jonckheer & Kolbe LLP