Why Sotera Health Stock Crumbled Today
Sotera Health (NASDAQ: SHC) stock took a massive tumble on Monday, making it one of the worst-performing healthcare stocks. Investors sold out of the company after a jury reached a verdict against it in a lawsuit taking place in Illinois. As a result, Sotera's stock price plummeted by more than 33% on the day.
That morning, a jury convened in the state's Cook County determined that Sotera, Sterigenics, and privately held company Griffith Foods must pay plaintiff Susan Kamuda a total of $363 million. Kamuda claimed that ethylene oxide emissions from a Sterigenics factory in the state caused her breast cancer and the non-Hodgkin's lymphona suffered by her son.
Sterigenics is a Sotera subsidiary that specializes in healthcare equipment sterilization. Griffith Foods is a successor company to the entity that originally built and operated the factory.
Source Fool.com
