NEW YORK, Feb 27 (Reuters) - A federal judge on Thursday dismissed a lawsuit accusing Norfolk Southern NSC.N of causing hundreds of millions of dollars of losses for bondholders by concealing safety risks prior to the February 2023 derailment in East Palestine, Ohio of a train carrying hazardous chemicals.
U.S. District Judge Lewis Kaplan in Manhattan found no proof the railroad's statements in offering materials about its focus on safety were false, or to support the bondholders' claim that Norfolk Southern was "cutting corners" and sacrificing safety for profits.
(Reporting by Jonathan Stempel in New York; Editing by Chris Reese)
((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.thomsonreuters.com@reuters.net))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.