Norfolk Southern Corp was sued on Tuesday by bondholders who said they lost hundreds of millions of dollars because the railroad concealed safety risks prior to the February derailment in Ohio of a train carrying hazardous chemicals.
was sued on Tuesday by bondholders who said they lost hundreds of millions of dollars because the railroad concealed safety risks prior to the February derailment in Ohio of a train carrying hazardous chemicals.
Bondholders said Norfolk Southern is strictly liable for having in offering prospectuses touted its focus on safety and downplayed the risks of "Precision Scheduled Railroading," which employs longer and heavier trains that require fewer workers.
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