Massey Can't Nix Stock-Drop Suit Over Mine Disaster

Law360, New York (March 29, 2012, 2:59 PM EDT) -- Massey Energy Co. must face a proposed class action alleging it concealed a deeply flawed safety record from investors before an explosion at a West Virginia coal mine killed 29 workers, a federal judge ruled Tuesday.

U.S. District Judge Irene C. Berger denied a bid by Massey and several top executives to dismiss claims they falsely proclaimed the company was instituting safety reforms after a 2006 fire killed two miners. Instead, the company continued to amass scores of citations for poor mine ventilation and combustible materials,...
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