Sotera Health Company (NASDAQ: SHC)

Join The Class Action Suit

RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Sotera Health Company ("Sotera" or the "Company") (NASDAQ: SHC) 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”).

Sotera shareholders may, no later than March 27, 2023, move the Court for appointment as a lead plaintiff of the Class.  If you purchased shares of Sotera and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

The 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.

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.

If you are a member of the class, you may, no later than March 27, 2023, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.