FILE - Norfolk Southern locomotives are moved through the Conway Terminal in Conway, Pa., June 17, 2023. The activist investors trying to take control of Norfolk Southern’s board are picking up key support, but the railroad’s CEO promised Monday, April 29, 2024, to continue fighting until the May 9 vote because he believes his strategy is the best in the long run for investors, customers and workers.
Proxy advisory firm Glass Lewis said in a report Monday that shareholders should vote for six of Ancora’s seven nominees, including proposed CEO Jim Barber, the former chief operating officer at UPS, because “Ancora has presented a compelling case for supporting a substantial overhaul of the company’s current leadership” after the railroad delivered results that have been “consistently worse than its peers for an extended period.
Steel producer Cleveland-Cliffs, which is one of the railroad’s biggest customers, also endorsed Ancora’s plan in a letter CEO Lourenco Goncalves
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Norfolk Southern Train Derailment in Ohio Not Considered a Public Health EmergencyFederal officials have stated that the Norfolk Southern train derailment in eastern Ohio does not qualify as a public health emergency. The Environmental Protection Agency did not approve the designation, as widespread health problems and ongoing chemical exposures have not been documented. The topic of a public health emergency was discussed in emails obtained by the Government Accountability Project.
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Activist Investor Targets Norfolk Southern's New COO Over Buyout Package and Discrimination AllegationsAncora, an activist investor, is targeting Norfolk Southern's new COO John Orr over an 'excessive' buyout package and allegations of racial and sexual discrimination. The firm is trying to shake up the railroad's board and oust CEO Alan Shaw.
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Norfolk Southern agrees to pay $600M in settlement related to train derailment in eastern OhioNorfolk Southern has agreed to pay $600 million in a class-action lawsuit settlement related to a fiery train derailment in February 2023 in eastern Ohio.
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Norfolk Southern agrees to pay $600M in settlement related to train derailment in eastern OhioNorfolk Southern has agreed to pay $600 million in a class-action lawsuit settlement related to a fiery train derailment in February 2023 in eastern Ohio.
Source: ksatnews - 🏆 442. / 53 Read more »
Norfolk Southern to Pay $600 Million in Train Derailment Lawsuit SettlementNorfolk Southern has agreed to pay $600 million in a class-action lawsuit settlement related to a fiery train derailment in eastern Ohio. The settlement will resolve all class action claims within a 20-mile radius from the derailment and personal injury claims within a 10-mile radius. Individuals and businesses can use the compensation to address potential adverse impacts from the derailment.
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