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SHC.US
id: 558
Investors of Sotera (SHC) to fight Emissions Liability related losses back
N.D. Ohio
Court23-CV-00143
Case number03/27/2023
Lead Plaintiff motion deadlineOn September 19, 2022, a jury in Sotera’s EtO emissions trial found the Company liable for the plaintiff’s cancer. The jury called Sotera’s & Sterigenics’ “willful and wanton” misconduct in not preventing toxic EtO emissions and failing to warn about the severe health hazard posed by the Company’s Illinois facility.
On this news, Sotera’s stock price plunged 33.3% and the Company lost over $1.3 billion of its capitalization, seriously damaging investors.
- Going back in September 2018, cancer-stricken plaintiffs filed a surge of lawsuits in Illinois against Sotera, alleging that emissions from the Company’s sterilization facility had caused their cancer.
- On September 30, 2019, after significant pressure from the public and action by Illinois regulators, Sotera announced the closure of its Illinois facility.
- In August 2020, cancer-stricken plaintiffs living near a Sterigenics facility in Georgia filed lawsuits similar to those filed in Illinois.
- Despite closing its Illinois facility and assuring investors and the public of the Company’s purportedly effective safeguards to limit EtO emissions, Sotera continued to emit dangerous levels of EtO gas from other facilities.
Taking all facts and trial results into account, Investors have all reasons to suspect that the Company and its Leaders could grossly violate shareholders' rights by hiding information and not correcting the business model, which subsequently led to a drop in the value of their shares.
Case Status
Dismissed
Alleged Offence
Mismanagement,
Misleading Statements,
Failure to Disclose,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09/19/2022
Filing date
01/24/2023
Lead Plaintiff Deadline
03/27/2023
Judge
Hon. Charles Esque Fleming