NEW ORLEANS–(BUSINESS WIRE)–Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Norfolk Southern Corporation (NYSE: NSC).
On February 3, 2023, a Norfolk Southern freight train, including 11 tank cars carrying hazardous materials, derailed in East Palestine, Ohio and subsequently ignited requiring the immediate evacuation of those within a one-two mile area. Then, on March 4, 2023, another Norfolk Southern freight train derailed near Springfield, Ohio.
Recently, the Company announced that it had agreed to pay $600 Million to settle all class-action claims within a 20-mile radius from the East Palestine derailment as well as personal injury claims within a 10-mile radius for residents who chose to participate.
The Company has also been sued in securities class action lawsuits for failing to disclose material information, in violation of federal securities laws, which remain ongoing.
KSF’s investigation is focusing on whether Norfolk Southern’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Norfolk Southern shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit us at https://www.ksfcounsel.com/cases/nyse-nsc/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850