Deal In Massey Energy Derivative Suit Gets Court OK

Law360, New York (June 27, 2008, 12:00 AM EDT) -- A West Virginia judge has approved a settlement in a derivative shareholder suit that accused defendants including coal producer Massey Energy Co.'s Chief Executive Don Blankenship of breaching their fiduciary duty by failing to ensure that the company complied with environmental and worker safety-related laws and regulations.

Judge Irene C. Berger gave the deal a green light at a hearing Wednesday, but an approval order hasn't actually been entered yet, said Andrew MacQueen, the plaintiff's local counsel, on Friday. The suit was lodged in Kanawha County...
To view the full article, register now.

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.