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Deadline on May 15th coming up in Lawsuit for Investors in shares of Norfolk Southern Corporation (NYSE: NSC)

05-01-2023 11:19 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A Deadline is coming up on May 15, 2023 in the lawsuit for certain investors in Norfolk Southern Corporation (NYSE: NSC).

A Deadline is coming up on May 15, 2023 in the lawsuit for certain investors in Norfolk Southern Corporation (NYSE: NSC).

A deadline is coming up on May 15, 2023 in the lawsuit filed for certain investors of Norfolk Southern Corporation (NYSE: NSC) over alleged securities laws violations by Norfolk Southern Corporation.

Investors who purchased shares of Norfolk Southern Corporation (NYSE: NSC) have certain options and there are strict and short deadlines running. Deadline: May 15, 2023. NYSE: NSC stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Southern District of Ohio the plaintiff alleges on behalf of purchasers of Norfolk Southern Corporation (NYSE: NSC) common shares between October 28, 2020 and March 3, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 28, 2020 and March 3, 2023, the defendants made false and/or misleading statements and/or failed to disclose that Norfolk Southern's PSR, including its use of longer, heavier trains staffed by fewer personnel, had led to Norfolk Southern suffering increased train derailments and a materially increased risk of future derailments, that Norfolk Southern's PSR was part of a culture of increased risk-taking at the expense of reasonable safety precautions due to Norfolk Southern's near-term focus solely on profits, that Norfolk Southern's PSR rendered Norfolk Southern more vulnerable to train derailments and train derailments with potentially more severe human, financial, legal, and environmental consequences, that Norfolk Southern's capital spending and replacement programs were designed to prioritize profits over Norfolk Southern's ability to provide safe, efficient, and reliable rail transportation services, that Norfolk Southern's lobbying efforts had undermined Norfolk Southern's ability to provide safe, efficient, and reliable rail transportation services, that Norfolk Southern's commitment to reducing operating expenses as part of its PSR goals undermined worker safety and Norfolk Southern's purported "commitment to an injury-free workplace" because Norfolk Southern's PSR plan prioritized reducing expenses through fewer personnel, longer trains, and less spending on safety training, technology, and equipment such as hot bearing wayside detectors (a/k/a "hotboxes") and acoustic sensors, that Norfolk Southern's rail services were, as a result of its adoption of PSR principles, more susceptible to accidents that could cause serious economic and bodily harm to Norfolk Southern, its workers, its customers, third parties, and the environment, and that Norfolk Southern had failed to put in place responsive practices and procedures to minimize the threat to communities in the event that these communities suffered the derailment of a Norfolk Southern train carrying hazardous and toxic materials.

Those who purchased shares of Norfolk Southern Corporation (NYSE: NSC) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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