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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Saratoga Advantage Trust v. ICG, Inc. et al


Case Number

2:08-cv-00011

Court

West Virginia Southern

Nature of Suit

Securities/Commodities

Judge

John T. Copenhaver, Jr.

Date Filed

January 7, 2008

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.