Core Insights - Norfolk Southern Corporation (NSC) has agreed to a $600 million settlement to address class action claims related to a train derailment incident [1] - The Department of Justice and Environmental Protection Agency announced a separate $310 million settlement with NSC for cleanup costs and safety enhancements following the same incident [3] - Wohl & Fruchter LLP is investigating potential breaches of fiduciary duties by NSC's officers and directors in relation to the derailment that occurred on February 3, 2023 [5] Settlement Details - The $600 million settlement will cover claims within a 20-mile radius for class action and a 10-mile radius for personal injury claims [1] - The $310 million settlement includes funds for past and future cleanup costs, enhanced rail safety, health monitoring, and other related expenses [3] Legal Investigation - Wohl & Fruchter LLP is looking into whether NSC's leadership violated their fiduciary duties under Delaware law due to the derailment incident [5]

Core Insights - Norfolk Southern Corporation has appointed Claude Mongeau as the independent chair of the board, effective immediately, along with new committee chairs Francesca A. DeBiase and Richard H. Anderson [1][2][4] Group 1: Board Appointments - Claude Mongeau, former CEO of Canadian National Railway Company, will serve as chair of the Executive Committee and resign from his positions on the Human Capital Management and Compensation and Safety Committees [2] - Francesca A. DeBiase has been appointed as chair of the Governance and Nominating Committee, bringing over 30 years of global supply chain expertise [2][7] - Richard H. Anderson has been appointed as chair of the Human Capital Management and Compensation Committee, with significant experience in navigating companies through strategic changes [2][9] Group 2: Board's Strategic Focus - Mongeau emphasized the board's commitment to enhancing service, improving network operations, and achieving productivity gains to align with peers [4] - DeBiase highlighted the importance of onboarding new directors to leverage their diverse expertise for advancing the company's strategy [4] - Anderson noted the board's serious consideration of recent Annual Meeting results, particularly regarding executive compensation, and plans for ongoing shareholder engagement [4] Group 3: Company Overview - Norfolk Southern has been operational since 1827, focusing on freight transportation and sustainability, helping customers avoid approximately 15 million tons of carbon emissions annually [11] - The company operates a customer-centric freight transportation network, delivering over 7 million carloads annually and originating more automotive traffic than any other Class I Railroad [11]

Agreement establishes long-term health monitoring and mental health services for residents and first responders, codifies rail safety improvements, and recognizes Norfolk Southern's extensive community investments ATLANTA, May 23, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) has reached an agreement on a consent decree with the U.S. Department of Justice (DOJ), U.S. Environmental Protection Agency (EPA), and U.S. Department of the Interior (DOI) to resolve all their claims and investigation ...

About Norfolk Southern Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a customer-centric and operations-driven freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver more than 7 million carloads annually, from ag ...

Results reflect support for leadership team and strategy ATLANTA, May 9, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced today that the preliminary vote count of its proxy solicitor indicates that its shareholders have voted to elect 10 of Norfolk Southern's director nominees at the 2024 Annual Meeting of Shareholders, including: Richard H. Anderson, former CEO of Amtrak and Delta Air Lines Philip S. Davidson, retired four-star Admiral in the U.S. Navy Francesca A. DeBiase, former ...

Norfolk Southern shareholders on Thursday voted to elect three of dissident Ancora's director nominees but fell short of ousting incumbent CEO Alan Shaw.The three seats are short of the full seven that the activist had been seeking, but still a clear indication of shareholders' desire for change at a railroad plagued by underperformance. Norfolk Southern's board had fought hard to stave off Ancora's biggest demand: Firing current CEO Alan Shaw. Ancora had rebuffed past settlement offers that didn't include ...

Norfolk Southern Corp (NYSE: NSC) is in focus this morning following a report that Ancora Holdings is close to winning board representation at the freight railroad operator. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.How many seats has Ancora won on $NSC board?Copy link to sectionCounting of votes is still ongoing but the activist hedge fund has already secured adequate support to win seats on the board of $NSC, as per sources that talked to Reut ...

Key partners voice unwavering support for Norfolk Southern's management team and balanced strategy ATLANTA, May 7, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) Tuesday highlighted additional support from key customers and industry associations – including Hub Group, Inc., American Short Line & Regional Railroad Association, CONSOL Energy Inc., and others. Their strong backing underscores the company's balanced strategy, driven by the decisive leadership of CEO Alan Shaw and guided by the No ...

U.S. Department of Transportation and Surface Transportation Board recognize the importance of Norfolk Southern's safety-driven and service-oriented culture Warn Ancora's plan would put safety and service at substantial risk ATLANTA, May 6, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) Monday shared statements from the U.S. Department of Transportation (DOT) and the Surface Transportation Board (STB) expressing support for Norfolk Southern's leadership and strategy in driving improvements ac ...

Energy and Bulk customers share their strong support of CEO Alan Shaw and management team Express concerns that Ancora's plan would hinder and interrupt service for their businesses ATLANTA, May 6, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) Monday shared recent support from multiple key customers, including Lincoln Energy Solutions and Centennial Energy, which underscore that the company's balanced strategy under the decisive leadership of CEO Alan Shaw is taking hold and delivering a sa ...