Norfolk Southern Corp (NSC) "Trains Derail" Case

N.D. Georgia

Court

1:23-cv-04175

Case number

10/28/2020

Class period Start

03/03/2023

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

03/04/2023

Filing date

03/16/2023

Judge

Hon. Steven D. Grimberg

Norfolk Southern Corp (NSC) "Trains Derail" Case

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