Now this is hilarious
NEW YORK — Norfolk Southern, already facing suits from the state of Ohio and a number of individuals and businesses over the East Palestine derailment, is now the target of multiple lawsuits from or on behalf of its stockholders. At least three such lawsuits have now been filed. Bragar Eagle &...
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Bragar Eagle & Squire, which describes itself as “a nationally recognized stockholder rights law firm,” has filed a class-action suit against the railroad over losses suffered by stockholders — essentially arguing that the railroad’s investor-driven Precision Scheduled Railroading strategy to reduce costs has proven to have negative consequences for investors.
According to a press release, the suit alleges that the railroad “made false and/or misleading statements and/or failed to disclose” that PSR “led to … a materially increased risk of future derailments” and “was part of a culture of increased risk-taking at the expense of reasonable safety precautions due to Norfolk Southern’s near-term focus solely on profits,” among other claims.