The Law Offices of Frank R. Cruz Announces Investigation of Sotera Health Company (SHC) on Behalf of Inve
The Law Offices of Frank R. Cruz announces an investigation of Sotera Health Company ("Sotera" or the "Company") SHC on behalf of investors concerning the Company's possible violations of federal securities laws.
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On or about November 20, 2020, Sotera conducted its initial public offering ("IPO"), selling 53.59 million shares of common stock at $23 per share. On or about March 18, 2021, the Company conducted its secondary public offering ("SPO"), selling 25 million shares at $27 per share.
On September 19, 2022, a jury found Sotera liable for $363 million in damages, after determining that its sterilization services exposed communities surrounding its processing facilities to Ethylene Oxide ("EtO") emissions and caused the plaintiff's cancer. The jury cited the Company's "willful and wanton" misconduct in not preventing toxic EtO emissions and failing to warn about the severe health hazard posed by its facilities. On this news, Sotera's stock price fell $4.90, or 33.3%, to close at $9.83 per share on September 19, 2022, thereby injuring investors.
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