GRABAR LAW OFFICE INVESTIGATES POTENTIAL CLAIMS AGAINST OFFICERS AND DIRECTORS OF NORFOLK SOUTHERN CORPORATION (NYSE: NSC)
If you are a current long-term Norfolk Southern Corporation shareholder, you may be able seek corporate reforms, the return of funds back to the company, and a court approved incentive award if appropriate.
On February 3, 2023, a Norfolk Southern train derailed near East Palestine, Ohio, spilling toxic chemicals including vinyl chloride, ethylene glycol monobutyl ether, ethylhexyl acrylate, isobutylene and butyl acrylate.
Norfolk’s attempt to ameliorate the spill included punching holes in the sides for rail cars and setting the spilled chemicals on fire, creating a 1-million-pound-plus chemical burn pit that released Phosgene Gas into the atmosphere. “From chemicals that cause nausea and vomiting to a substance responsible for the majority of chemical warfare deaths during World War I.” Toxic chemicals from the spill have now been detected in local soil and nearby waterways including the Ohio River.
On February 15, the Ohio Attorney General informed Norfolk Sothern’s CEO that he is considering litigation under his statutory and common-law authority and may also pursue claims should the Ohio Environmental Protection Agency send a litigation referral to his office. In that letter, Ohio’s AG stated “After Norfolk Southern’s train derailed, the company caused the release of hazardous materials into the air, land, and surface and ground waters in and around East Palestine. The pollution, which continues to contaminate the area around East Palestine, created a nuisance, damage to natural resources and caused environmental harm. Local residents and Ohio’s waters have been damaged as a result.”
We are investigating whether members of Norfolk Southern’s board and senior officers breached their fiduciary duties to Norfolk Southern, and whether Norfolk Southern and its shareholders have suffered damages as a result.
If you would like to learn more about this matter and your rights, at no cost to you, contact us at email@example.com, or call 267-507-6085.