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ROSEN A LEADING LONGSTANDING AND TOP RANKED FIRM Encourages Norfolk Southern Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action NSC Business News

globenewswire
Apr 24, 2023
ROSEN, A LEADING, LONGSTANDING, AND TOP RANKED FIRM, Encourages Norfolk Southern Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action NSC
GlobeNewswire
April 24, 2023
NEW YORK, April 23, 2023 (GLOBE NEWSWIRE) --
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Norfolk Southern Corporation (NYSE: NSC) between October 28, 2020 and March 3, 2023, both dates inclusive (the Class Period), of the important May 15, 2023 lead plaintiff deadline.
SO WHAT: If you purchased Norfolk Southern securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Norfolk Southern class action, go to https://rosenlegal.com/submit-form/?case_id=12322 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 15, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs Bar. Many of the firms attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: During the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Companys Precision Scheduled Railroading (PSR), including its use of longer, heavier trains staffed by fewer personnel, had led to the Company suffering increased train derailments and a materially increased risk of future derailments; (2) the Companys PSR, including its use of longer, heavier trains staffed by fewer personnel, was part of a culture of increased risk-taking at the expense of reasonable safety precautions due to the Companys near-term focus solely on profits; (3) the Companys PSR, including its use of longer, heavier trains staffed by fewer personnel, rendered the Company more vulnerable to train derailments and train derailments with potentially more severe human, financial, legal, and environmental consequences; (4) the Companys capital spending and replacement programs were designed to prioritize profits over the Companys ability to provide safe, efficient, and reliable rail transportation services; (5) the Companys lobbying efforts had undermined the Companys ability to provide safe, efficient, and reliable rail transportation services; (6) the Companys commitment to reducing operating expenses as part of its PSR goals undermined worker safety and the Companys purported commitment to an injury free workplace because the Companys PSR plan prioritized reducing expenses through fewer personnel, longer trains, and less spending on safety training, technology, and equipment such as hot bearing wayside detectors (a/k/a hotboxes) and acoustic sensors; (7) the Companys rail services were, as a result of its adoption of PSR principles, more susceptible to accidents that could cause serious economic and bodily harm to the Company, the Companys workers, the Companys customers, third parties, and the environment; (8) the Company had failed to put in place responsive practices and procedures to minimize the threat to communities in the event that these communities suffered the derailment of a Norfolk Southern train carrying hazardous and toxic materials; and (9) as a result, defendants Class Period statements detailed above regarding the safety of Norfolk Southerns operations were materially false and/or misleading.
To join the Norfolk Southern class action, go to https://rosenlegal.com/submit-form/?case_id=12322 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investors ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Monday, April 24, 2023 at 12:43 am

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