Monday, July 9, 2012

Delay In Massey Shareholders' Lawsuit

{Beckley, West Virginia}...U.S. District Judge Irene Berger in Beckley has granted another delay in the case of former Massey Energy shareholders who say the coal operator lied to them about its safety record to inflate stock prices. Last week, federal prosecutors said they wanted to protect their criminal probe of the 2010 Upper Big Branch mine disaster by withholding evidence that could help the investors' lawsuit. Judge Berger issued an order Monday allowing the evidence to remain secret until January 15, 2013, or until the federal government concludes its criminal investigation. Judge Berger also canceled a scheduling conference set for Thursday. Assistant U.S. Attorney Steve Ruby says he didn't want to divert his investigators' time to compile evidence for a civil case. He also argues the shareholders' case could benefit by waiting.