Class action lawsuit charges Sotera Health and certain of its top executive officers with violations of the Securities Exchange Act of 1934

Sotera Health Company (NASDAQ: SHC)

NASHVILLE, TENNESSEE, UNITED STATES, February 2, 2023 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 20 years, informs investors that a that a purchaser of Sotera Health Company (NASDAQ: SHC), who suffered losses in Sotera Health stock, filed a class action complaint against the Company for violations of the securities laws. The Sotera Health class action lawsuit seeks to represent purchasers or acquirers of Sotera Health common stock: (i) pursuant and/or traceable to Sotera Health’s initial public offering conducted on or around November 20, 2020 (“IPO”); (ii) pursuant and/or traceable to Sotera Health’s secondary public offering conducted on or around March 18, 2021 (“SPO”); and/or (iii) between November 20, 2020 and September 19, 2022, inclusive (the “Class Period”). Captioned Oakland County Employees’ Retirement System v. Sotera Health Company, No. 23-cv-00143 (N.D. Ohio), the Sotera Health class action lawsuit charges Sotera Health and certain of its top executives, directors, controlling shareholders, and underwriters with violations of the Securities Act of 1933 and the Securities Exchange Act of 1934.

If you suffered losses in Sotera Health stock ​ and wish to serve as lead plaintiff of the Sotera Health class action lawsuit, or just have questions as an investor, please visit us here. You can also contact Sotera Health Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at tmiles@timmileslaw.com. Lead plaintiff motions for the Sotera Health class action lawsuit must be filed with the court no later than March 27, 2023. If you suffered losses in Sotera Health and have questions, please contact Sotera Health Stock Loss Lawyer Timothy L. Miles today.

Allegations in the Sotera Health Class Action Lawsuit

Sotera Health provides sterilization and lab testing and advisory services to the medical device and pharmaceutical industries. Through its Sterigenics brand, Sotera Health provides outsourced terminal sterilization services for the medical device and pharmaceutical markets. As part of Sotera Health’s sterilization services, Ethyl Oxide (“EtO”) gas is used – a process that emits toxic fumes which must be filtered before being released into the air.

The Sotera Health class action lawsuit alleges that the IPO and SPO’s offering documents and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Sotera Health failed to employ effective emissions control systems to prevent the release of excessive amounts of toxic EtO gas from its sterilization facilities; (ii) those deficiencies exposed people living in the surrounding communities to a significantly increased risk of cancer; and (iii) those deficiencies further subjected Sotera Health to an increased risk of liability from hundreds of EtO-related lawsuits.

On September 19, 2022, an Illinois state court jury, in the first lawsuit arising from Sotera Health’s EtO emissions (the “Kamuda” case) found Sotera Health liable for causing the Kamuda plaintiff’s cancer. The jury awarded the Kamuda plaintiff $363 million in damages. The jury cited Sotera Health’s and Sterigenics’ “willful and wanton” misconduct in not preventing toxic EtO emissions, and failing to warn about the severe health hazard posed by Sotera Health’s Illinois facility. On this news, Sotera Health’s stock price declined over 33%.

Then, on September 20, 2022, Goldman Sachs downgraded Sotera Health stock, noting a greater risk to Sotera Health in future EtO-related litigation. On this news, Sotera Health’s stock price declined over 16%.

Finally, on September 21, 2022, JP Morgan downgraded Sotera Health stock after finding that “investors are likely to price in this unprecedented ruling as a higher probability of a larger settlement or subsequent payouts of the 700+ remaining individual lawsuits, which [Sotera Health] could potentially not afford.” On this news, Sotera Health’s stock price declined over 10%, further damaging investors.
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As of when the Sotera Health class action lawsuit was filed, Sotera Health common stock continued to trade below the $23.00 per share IPO price and the $27.00 per share SPO price.

Sotera Health Shareholders Urged to Contact the Firm

If you purchased Sotera Health securities or have any questions concerning this announcement or your rights or interests with respect to these matters, please click here for more information or contact Timothy L. Miles, Esquire, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell^® and ALM as a 2022 Top Ranked Lawyer and a 2022 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019).

Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
109 Summit Ridge Ct.
Nashville, TN 37215
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.classactionlawyertn.com
Timothy Miles
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Timothy L. Miles Miles
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Timothy L. Miles
Law Offices Of Timothy L. Miles
+16155877384 ext.
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
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YouTube
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Other

Timothy L. Miles
Law Offices Of Timothy L. Miles
6155877384 ext.
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Instagram
YouTube
TikTok
Other

Timothy L. Miles Awarded AV Preeminent Rating by Martindale Hubble

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