Norfolk Southern Corporation Investor Alert Update (NYSE: NSC): Schubert Jonckheer & Kolbe LLP Investigating Potential Claims Against the Company's Officers and Directors Following $310 Million Se...

SAN FRANCISCO, May 30, 2024 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP advises Norfolk Southern Corporation investors that the firm is investigating potential legal claims arising from the February 3, 2023 train derailment in East Palestine, Ohio and potential wrongdoing among certain of Norfolk Southern's officers and directors. Current shareholders are encouraged to contact the firm regarding their rights.

On May 23, 2024, the U.S. Department of Justice and U.S. Environmental Protection Agency announced a settlement with Norfolk Southern requiring it to pay $310 million for cleanup costs, community health programs, groundwater monitoring, infrastructure upgrades, and a civil penalty in connection with the derailment. That is on top of the recent $600 million settlement Norfolk Southern agreed to pay in a class action lawsuit brought by individuals and businesses located within a 20-mile radius of the derailment site.

The February 2023 Norfolk Southern train derailment released toxins and combustible liquids, led to a controlled burn of toxic chemicals, and 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. At the time, Ohio Governor Mike DeWine stated that Norfolk Southern "created the problem" and that it was "their liability" and "ought to pay for it."

These matters have exposed the company to massive liabilities, damaging shareholder value. Our investigation concerns whether current Norfolk Southern shareholders may be able to bring claims against potential wrongdoers for their role in the disaster. 

If you own Norfolk Southern stock and want additional information about your rights, please visit our website at https://www.classactionlawyers.com/norfolkupdate2.

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.

Contact
Schubert Jonckheer & Kolbe LLP
Tel: (415) 788-4220

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SOURCE Schubert Jonckheer & Kolbe LLP