Norfolk Southern Under Lens After Ohio Train Derailment; Air, Water & Soil Tests Look For Chemicals

Norfolk Southern Corp NSC is reportedly under scrutiny as cleanup and environmental-monitoring efforts continue in an Ohio town after the derailment of a train carrying hazardous chemicals.
Around 50 cars of a 150-car Norfolk Southern train derailed earlier this month in East Palestine, causing a chemical fire and prompting the evacuation of residents.
Officials had to drain vinyl chloride from five tanker cars to prevent an explosion.
Some derailed, breached, or burned railcars carried other chemicals that can present health hazards, such as isobutylene, a flammable gas, and butyl acrylate, used to make coatings and sealants, according to the U.S. Environmental Protection Agency.
Though the accident remains under investigation, federal transportation safety officials note a train car wheel bearing overheated and failed before the derailment.
State environmental and health officials said the controlled release of chemicals affected local waterways, causing the death of about 3,500 fish.
Several lawsuits have been filed against Norfolk Southern, alleging negligence and exposure to toxic substances.
Norfolk said it had distributed more than $1.2 million directly to families to cover evacuation costs and has helped more than 700 families and some businesses, Wall Street Journal reported.
Price Action: NSC shares are up 1.88% at $239.71 premarket on the last check Wednesday.