NEW YORK, Feb. 20, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Sotera Health Co. (“Sotera” or the “Company”) SHC. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Sotera and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On September 19, 2022, an Illinois state jury found Sotera liable for the plaintiff’s cancer in a lawsuit related to emissions of the hazardous gas ethylene oxide (“EtO”) by Sotera. Specifically, the jury awarded the plaintiff $363 million in damages, including $38 million in compensatory damages and $325 million in punitive damages. Significantly, the jury cited “willful and wanton” misconduct by Sotera and its Sterigenics business in failing to prevent toxic EtO emissions and warning of the serious health hazard posed by the company’s Illinois facility.

As a result of this news, Sotera’s stock price fell $4.90 per share, or 33.3%, to close at $9.83 per share on September 19, 2022.

On September 20, 2022, Goldman Sachs analysts downgraded Sotera stock, noting that Sotera faces significantly higher risk in future EtO-related litigation based on the facts that have emerged in the Illinois case and “potential outcome bands that are so open that there will be a surplus of material on hand for the foreseeable future.”

Following the downgrade, Sotera’s stock price fell $1.63 per share, or 16.6%, to close at $8.20 per share on September 20, 2022.

Then, on September 21, 2022, analysts at JP Morgan downgraded Sotera stock after noting that “investors are likely to price this unprecedented ruling as a higher likelihood of a larger settlement or later payouts for the 700+ remaining individual lawsuits, which [Sotera] might not be able to afford.”

Following that…