Walter Energy Can't Shake Stock Fraud Suit Over $3.3B Buy

Law360, New York (January 29, 2013, 8:23 PM EST) -- An Alabama federal judge on Tuesday denied a bid by Walter Energy Inc. to toss a proposed class action launched by the Alabama-based coal producer’s stockholders alleging it made misleading statements about its financial prospects, including potential benefits of its $3.3 billion acquisition in 2010 of Canada's Western Coal Corp.

U.S. District Judge Virginia Hopkins denied without prejudice the bid by Walter Energy and others to dismiss the suit, siding with the plaintiffs’ argument that the defendants had included materials in their motion to dismiss that...
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