mail@shareholdersfoundation.com
An investor in Massey Energy Company filed a lawsuit in the United States District Court for the Southern District of West Virginia on behalf of purchasers of Massey Energy Company (MEE) publicly traded securities during the period between October 28, 2009 and April 21, 2010, alleging violations of Federal Securities Laws by Massey Energy.
If you purchased Massey Energy Company (NYSE:MEE) securities between October 28, 2009 and April 21, 2010, you have certain options and there are strict and short deadlines running. Deadline: June 28, 2010. Those MEE investors and current long term investors, including those who purchased MEE stock prior to October 28, 2009, and continue to hold those shares, you should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.
Massey Energy Company, located in Richmond, VA, is a coal producer in the United States. Massey Energy Company reported in 2007 Total Revenue of $2.41352billion, in 2008 $2.98979billion, and in 2009 $2.69116billion. According to the complaint the plaintiff alleges that Massey Energy Company and certain of its officers and directors violated the Securities Exchange Act of 1934. In particular, the complaint alleges that prior to and between October 28, 2009 and April 21, 2010, Massey Energy Company claimed to be one of the safest mine operators in the industry, regularly touting its safety achievements and telling investors that safety was its number one priority. Then, on April 5, 2010, an explosion at the Upper Big Branch mine near Montcoal, West Virginia, revealed the falsity of Massey Energy Company's repeated representations about the safety of its mining operations when twenty-nine miners lost their lives in the deadliest U.S. mine accident in nearly 40 years, so the lawsuit. The price of Massey Energy Company common stock (MEE) declined following the explosion and subsequent revelations regarding Massey's safety violations, so the plaintiff. On April 21, 2010, eight Massey Energy Company mines were the target of surprise inspections by federal mine safety officials. Then, after the market closed, Massey Energy Company announced its first quarter earnings and told investors that it would take up to $150 million in charges in the second quarter to account for the potential costs and liabilities associated with the Upper Big Branch tragedy. On these events Massey Energy Company 's stock fell to as low as $41.30 per share on April 22, 2010 before closing at $42.93 per share. Shares of Massey Energy Company (MEE) traded recently at $41.16 per share, down from its 52week High of $54.80 per share and over $90 per share in 2008.
Those who purchased Massey Energy Company (NYSE:MEE) securities between October 28, 2009 and April 21, 2010, have certain options and there are strict and short deadlines running. Deadline: June 28, 2010. Those MEE investors and current long term investors, including those who purchased MEE stock prior to October 28, 2009, and continue to hold those shares, you should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.
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