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NSC.US
id: 606
Norfolk Southern Corp (NSC) "Trains Derail" Case
N.D. Georgia
Court1:23-cv-04175
Case number28 Oct 2020
Class period Start03 Mar 2023
Class period End- Norfolk Southern (NSC) trains derailed several times, causing multiple damages.
- The National Transportation Safety Board is investigating.
- $NSC lost over $1B of its market capitalization, injuring shareholders.
- Investors suspect Norfolk Southern and its Leaders of negligence.
On March 4, 2023, the Norfolk Southern (NSC) cargo train derailed close to Springfield, Ohio, causing 28 of the train's 212 cars to come off the tracks. The National Transportation Safety Board reacted by announcing that an investigation would commence.
As a result of this announcement, Norfolk Southern's (NSC) stock price dropped by 2.6%, damaging investors.
Earlier, on February 3, 2023, in East Palestine, Ohio, a Norfolk Southern (NSC) train derailed, causing the release of hazardous materials and flammable liquids, and leading to the controlled burning of toxic substances. This incident resulted in the evacuation of residents from the surrounding area. As a consequence, Norfolk Southern is facing multiple lawsuits and investigations from regulators and affected parties.
Subsequently, the NSC stock price significantly decreased and the Company lost over $1B of its market capitalization, injuring shareholders.
Taking multiple cases into account, Investors have reasons to suspect the Company and its Leaders of negligence and breach of fiduciary duties.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
04 March 2023
Filing date
16 March 2023
Judge
Hon. Steven D. Grimberg