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id: 558, Created by Stan Vick, Scout
Investors of Sotera (SHC) to fight Emissions Liability related losses back
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On September 19, 2022, a jury in Sotera’s EtO emissions trial found the Company liable for the plaintiff’s cancer. The jury called Sotera’s & Sterigenics’ “willful and wanton” misconduct in not preventing toxic EtO emissions and failing to warn about the severe health hazard posed by the Company’s Illinois facility.
On this news, Sotera’s stock price plunged 33.3% and the Company lost over $1.3 billion of its capitalization, seriously damaging investors.
- Going back in September 2018, cancer-stricken plaintiffs filed a surge of lawsuits in Illinois against Sotera, alleging that emissions from the Company’s sterilization facility had caused their cancer.
- On September 30, 2019, after significant pressure from the public and action by Illinois regulators, Sotera announced the closure of its Illinois facility.
- In August 2020, cancer-stricken plaintiffs living near a Sterigenics facility in Georgia filed lawsuits similar to those filed in Illinois.
- Despite closing its Illinois facility and assuring investors and the public of the Company’s purportedly effective safeguards to limit EtO emissions, Sotera continued to emit dangerous levels of EtO gas from other facilities.
Taking all facts and trial results into account, Investors have all reasons to suspect that the Company and its Leaders could grossly violate shareholders' rights by hiding information and not correcting the business model, which subsequently led to a drop in the value of their shares.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
19 September 2022
24 January 2023
Lead Plaintiff Deadline
27 March 2023
Hon. Charles Esque Fleming