Massey To Pay $220M In Coal Contract Dispute

Law360, New York (July 3, 2007, 12:00 AM EDT) -- A West Virginia Jury on Monday ordered Coal giant Massey Energy Co. to shell out nearly $220 million to steel company Wheeling-Pittsburgh Steel Corp. for failing to deliver significant quantities of coal.

On Tuesday, Massey said it would appeal the award with the Supreme Court of Appeals of West Virginia, but admitted that the judgment would negatively impact its second-quarter earnings. The company recognized a liability of $16 million associated with the lawsuit.

"We believe we can win a more appropriate and favorable decision on appeal...
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