NEW YORK, April 7, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits have been initiated on behalf of shareholders of Norfolk Southern Corporation NPCalphabet inc GOOD GOOGL))), United Natural Foods, Inc. UNFIand Tupperware Brands Corporation TUPP. Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.
Norfolk Southern Corporation NPC
Class Period: October 28, 2020 – March 3, 2023
Lead Plaintiff Deadline: May 15, 2023
Norfolk Southern is a rail transportation company that has implemented a strategy known as Precision Scheduled Railroading (“PSR”), which involves hyper-efficient operational changes aimed at increasing revenue and reducing costs. Operational changes typically include downsizing; longer, heavier trains that can stretch for several kilometers; and tighter schedules.
Norfolk Southern’s Class Action Complaint alleges that throughout the Class Period, the Defendants provided false and/or misleading information and/or failed to disclose: (i) Norfolk Southern’s PSR, including the use of longer, heavier trains with fewer personnel , had led to Norfolk Southern suffering from increasing levels of train derailments and a significantly increased risk of future derailments; (ii) Norfolk Southern’s PSR was part of a culture of increased risk-taking at the expense of reasonable safeguards due to Norfolk Southern’s short-term focus on profit only; (iii) Norfolk Southern’s PSR made Norfolk Southern more vulnerable to train derailments and train derailments with potentially more serious human, financial, legal and environmental consequences; (iv) Norfolk Southern’s investment and replacement programs are designed to prioritize profits over Norfolk Southern’s ability to provide safe, efficient and reliable rail transport services; (v)…
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