NORFOLK SOUTHERN CORPORATION (NSC) SHAREHOLDER ALERT UPDATE: Company to Pay $600 Million Class Action Settlement for 2023 East Palestine Train Derailment - Current Shareholders Urged to Contact Sc...

SAN FRANCISCO, April 11, 2024 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating potential claims on behalf of shareholders of Norfolk Southern Corporation (NYSE: NSC) relating to the February 3, 2023 train derailment in East Palestine, Ohio and potential wrongdoing among certain of Norfolk Southern's officers and directors.

The February 2023 Norfolk Southern train derailment released toxins and other 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."

On April 9, 2024, Norfolk Southern announced that it agreed in principle to pay $600 million to settle a class action lawsuit brought by individuals and businesses located within a 20-mile radius of the derailment site. Other litigation and regulatory investigations, including by the U.S. Environmental Protection Agency, U.S. Department of Justice, Ohio Attorney General, National Transportation Safety Board, and Federal Rail Administration, and a securities fraud class action, remain pending. These matters have exposed the company to potentially massive additional liabilities, penalties, and fines.

If you own Norfolk Southern stock and want additional information about your rights, please contact us today or visit our website at

https://www.classactionlawyers.com/norfolkupdate.

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
Amber L. Schubert
Schubert Jonckheer & Kolbe LLP
aschubert@sjk.law
Tel: 415-788-4220

View original content:https://www.prnewswire.com/news-releases/norfolk-southern-corporation-nsc-shareholder-alert-update-company-to-pay-600-million-class-action-settlement-for-2023-east-palestine-train-derailment--current-shareholders-urged-to-contact-schubert-jonckheer--kolbe-llp-regar-302114298.html

SOURCE Schubert Jonckheer & Kolbe LLP