Wednesday, March 28, 2012

Federal Judge Rejects Massey Motion

  • {Beckley, West Virginia}...U.S. District Judge Irene Berger issued a ruling Wednesday in Beckley, rejecting Massey Energy's motion to dismiss a lawsuit by shareholders who say they were misled about the company's safety record before the Upper Big Branch Mine disaster. Berger's ruling allows the case led by the Massachusetts Pension Reserves Investment Trust to proceed. The investors say Massey repeatedly claimed to be one of the safest operators in the industry, regularly touting safety achievements and leading them to believe safety was a corporate priority. They learned otherwise in April 2010, when the mine exploded, killing 29 men. Massey sought last year to have the case thrown out.