Massey investor suit on hold during criminal probe

MORGANTOWN, W.Va. (AP) - Shareholders who say they were
deliberately misled about Massey Energy's safety record won't be
ready for a June 7 hearing because they lack access to key
evidence.
In a motion to waive current deadlines in their federal lawsuit,
they say evidence remains off limits because of the ongoing
criminal investigation into the Upper Big Branch mine disaster.
Led by the Massachusetts Pension Reserves Investment Trust, the
shareholders say they're negotiating with prosecutors about
releasing some information, but they need more time.
They say Massey lied to investors before the worst U.S. mining
disaster in four decades killed 29 men, artificially inflating
stock prices between 2008 and 2010.
Only after the 2010 explosion did they learn the extent of the
problems.
Massey is now owed by Virginia-based Alpha Natural Resources.

(Copyright 2012 by The Associated Press. All Rights Reserved.)


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