Philadelphia, Pennsylvania--(Newsfile Corp. - April 21, 2023) - Grabar Law Office is investigating potential claims on behalf of Sotera Health Company (NASDAQ: SHC) shareholders. The investigation concerns whether certain officers of Sotera have breached their fiduciary duties owed to the company.
A class action complaint has been filed against Sotera Health. The complaint alleges that the Company made numerous materially false and misleading representations concerning its emissions control systems and exposure to liability from lawsuits for the Company's failure to limit harmful Ethylene Oxide ("EtO") emissions. The Company, via certain of its officers, represented that it had "a proactive [environmental, health and safety] program and a culture of safety and quality." In addition, the Company stated that it employed adequate and effective safeguards to control EtO emissions. Moreover, the Company and its executives denied allegations that the Company's EtO emissions from its sterilization facilities caused cancer and other severe health issues in people living in the communities near those facilities. In truth, the Company and its senior executives knew, or at a minimum, recklessly disregarded, that for years the Company failed to employ effective emissions control systems to prevent the release of excessive amounts of toxic EtO gas from its sterilization facilities. Those deficiencies exposed people living in the surrounding communities to a significantly increased risk of cancer and subjected the Company to an increased risk of liability from hundreds of EtO-related lawsuits.
Current long-term Sotera shareholders who have held Sotera stock: (i) pursuant and/or traceable to the Company's initial public offering conducted on or around November 20, 2020 (the "IPO") or (ii) pursuant and/or traceable to the Company's secondary public offering conducted on or around March 18, 2021 can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.
If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/sotera-health-shareholder-investigation/, contact us at jgrabar@grabarlaw.com, or call Joshua Grabar at 267-507-6085.
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163420
Source: Grabar Law Office