ICG Agrees To $1.4M Deal In Investors’ Mine Safety Suit

Law360, New York (August 1, 2011, 3:42 PM EDT) -- International Coal Group on Monday won initial approval of a nearly $1.4 million settlement of a class action claiming the company — which owned a West Virginia mine where 12 miners perished in 2006 — misled investors about its safety record before an asset purchase.

Saratoga Advantage Trust filed suit against ICG and four individuals in West Virginia federal court in January 2008, alleging violations of the Securities Exchange Act of 1934. The class action claims that ICG made false and misleading statements that inflated the...
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