LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Norfolk Southern Corporation (“Norfolk Southern” or “the Company”) (NYSE: NSC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between October 28, 2020 and March 3, 2023, inclusive (the ''Class Period''), are encouraged to contact the firm before May 15, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Norfolk Southern’s “Precision Scheduled Railroading” (“PSR”) strategy of using longer, heavier trains which were staffed with less workers led to a materially increased chance of derailment. The Company’s PSR strategy was part of its attitude of increased risk-taking due to its focus on near-term profits. The Company’s lobbying efforts interfered with its ability to provide safe rail transportation. The Company failed to create response procedures in the case of serious derailment to protect communities from toxic materials. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Norfolk Southern, investors suffered damages.
Join the case to recover your losses.
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