On April 19, 2024, Norfolk Southern Corporation announced that it has issued a statement with Securities and Exchange Commission, stating that among other claims, Ancora Alternatives LLC grossly overestimates the 12-month savings across numerous categories and their estimated savings are simply not supported by the mathematical reality, and Ancora has unrealistically projected expected savings of $800 million over 12 months, resulting in a 62 ? 63% operating ratio, while claiming they would not furlough employees. In addition, the Company stated that in its presentation, informed by actual railroading experience and direct industry expertise, the company has outlined what the real savings would be in each cost opportunity Ancora cited, and Ancora's informed savings estimates would only amount to $400 million, and to achieve the remaining $400 million savings in their plan, approximately 2,900 employee furloughs would be required, despite Ancora's assertions to the contrary.

Further, the Company urged the shareholders to vote for its 13 board nominees at the 2024 annual meeting of shareholders.