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Sotera Health (NASDAQ: SHC) rose 17% after trading on Friday after a judge in Cook County, Illinois found that the company’s Sterigenics group was not sued for breast cancer.
The verdict came late Friday in the court of Cook County, Illinois, according to a Cook County Record Report.
The jury’s decision came two months after a jury in Illinois awarded $363m to a woman who sued her company Sterigenics over allegations that an extract from the plant may have caused her to develop breast cancer. Friday’s decision was the second as the company faces lawsuits from more than 700 plaintiffs who say Sterigenics’ Willowbrook plant causes cancer and other illnesses.
“The jury’s verdict in this case reflects a careful and thorough understanding of the science and other evidence presented at trial,” a Sterigenics spokesperson told the Cook County Record in a statement.
Shares of Sotera Health (SHC) fell 33% on September 19 after a $363 million judgment against the company and led to a slight decline in the sale of the side analysts including Goldman Sachs and JPMorgan, which cut Sotera to reduce obesity. Sotera’s stock is down nearly 60% since the September decision even on Friday.
Last month Citi cut Sotera Health (SHC) from participating in the purchase with a price of $9, down from $25, citing a jury verdict in September.
