Norfolk Southern Investor Alert Update: We Are Investigating Potential Claims Against the Company’s Officers and Directors Following $310 Million Settlement with the DOJ and EPA

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 stock in Norfolk Southern and wish to obtain additional information about your legal rights, please complete the form below for a free legal consultation.