The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Sotera Health Company (NASDAQ: SHC) who purchased common stock: (i) pursuant and/or traceable to the Company’s initial public offering conducted on or around November 20, 2020; (ii) pursuant and/or traceable to the Company’s secondary public offering conducted on or around March 18, 2021; and/or (iii) between November 20, 2020 and September 19, 2022. The action, which was filed in the United States District Court for the Northern District of Ohio, alleges that the Company violated federal securities laws.
In particular, the Sotera lawsuit alleges that 1) long before the Company's initial public offering, Sotera’s executives and controlling shareholders knew of the significant health risks associated with exposure to elevated levels of Ethylene Oxide (“EtO”); 2) despite that knowledge, Sotera failed to employ adequate and effective emissions control systems at its sterilization facilities and often subverted whatever control systems the Company did have; 3) these failures and subversions allowed dangerous amounts of toxic EtO fumes to pollute the air surrounding those facilities and exposed people living in the adjacent communities to significantly increased cancer risks; 4) even after Sotera’s closure of its Illinois EtO processing plant, the Company continued to operate multiple sterilization facilities that emitted dangerous levels of EtO; and 5) to the extent that the Company purported to warn of liability risks from the EtO cancer-related lawsuits, Sotera failed to disclose the true extent of those risks by withholding information from investors regarding the inadequacy or subversion of its EtO emissions control systems.
Shareholders have until March 27, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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