According to the Complaint, Sotera Health Company provides sterilization and lab testing and advisory services to the medical device and pharmaceutical industries. Through its Sterigenics brand, Sotera provides sterilization services for the medical device and pharmaceutical markets. The Company uses Ethylene Oxide (“EtO”) processing as one of three methods to sterilize products. EtO processing is a gas sterilization process in which pallets of packaged goods are loaded into a chamber that is then injected with EtO gas to penetrate the packaging. That process emits toxic fumes which must be filtered before being released into the air. Sotera, through its Sterigenics business, conducts or has conducted EtO processing at facilities throughout the United States, including Illinois, California, Georgia, and New Mexico, among other places.

The Complaint alleges that, throughout the Class Period, and in connection with the IPO and the SPO, Sotera made false and misleading representations concerning its emissions control systems and exposure to liability from lawsuits for the Company’s failure to limit harmful EtO emissions.

On April 17, 2023, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on June 1.