Sotera Prevails in Investor Appeal of Emissions Disclosures Suit

Sotera Health Co. ended investor allegations that it misrepresented the toxic emissions compliance and litigation prospects of its pharmaceutical product sterilization unit surrounding its 2020 initial public offering.

Sotera’s IPO paperwork and other statements cautioned about litigation risks and regulatory noncompliance, the US Court of Appeals for the Sixth Circuit said, affirming the proposed class action’s dismissal Tuesday.

The investors’ “complaint contains over 50 pages of allegedly false and misleading statements made by Sotera,” the unpublished opinion said. “But rather than being determinate or verifiable, Sotera’s generalized statements project optimism regarding the company’s ability to comply with regulations while also ...