PHILADELPHIA, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it has commenced an investigation into Sotera Health Company (NASDAQ: SHC) (“Sotera”) on behalf of the company’s long-term investors.
Recently an amended securities fraud complaint was filed against Sotera on behalf of certain investors who purchased shares of the company’s stock between November 19, 2020 and September 19, 2022. According to the complaint, during that time period Sotera “knowingly made a series of misrepresentations about Sotera’s commitment to the safety of surrounding communities, its ability and willingness to meet and exceed regulatory requirements, and its potential liability from [ethylene oxide (“EtO”)] litigation.”
As detailed in the complaint, on September 19, 2022, “an Illinois jury found that a medical equipment sterilization facility operated by Sotera had given a woman … breast cancer and awarded a staggering $325 million in punitive damages and $38 million in compensatory damages against Sotera and its medical equipment sterilization subsidiary … for their ‘willful and wanton’ conduct in causing … cancer by releasing EtO into the atmosphere around its Willowbrook, Illinois facilities.”
Following this news, shares of the company’s stock fell $4.90 per share, or 33% in value, to close on September 19, 2022 at $9.83 per share, on unusually heavy trading volume.
The investigation seeks to determine whether Sotera’s officers and directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Sotera shareholders who purchased or acquired their shares prior to September 19, 2022 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/sotera-health-co/, for additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
This notice may constitute attorney advertising in certain jurisdictions.
