Sotera Knew of Toxics Risk But Kept Silent in IPO, Investors Say

Sotera Health Co.'s public offering documents misrepresented its Sterigenics unit’s control of toxic emissions from its medical device sterilization facilities and potential liability to people who developed cancer, investors say in a new suit over stock-price drops.

A $363 million verdict in favor of a single personal injury plaintiff, and that case’s disclosure of corporate documents, sent share prices down about 33%, 17%, and 11% over the course of three days in September 2022, the investors say. The shareholders, a pair of Oakland County, Mich., retirement and benefit funds, filed their complaint Tuesday in the US District Court for the ...