Massey investor suit on hold during criminal probe

MORGANTOWN, W.Va. (AP) - Shareholders who say they were
deliberately misled about Massey Energy

FILE - In an April 5, 2010 file photo, West Virginia State Police direct traffic at the entrance to Massey Energy's Upper Big Branch Coal Mine in Montcoal, W.Va. An explosion fueled by methane and coal dust ripped through the seven miles of underground corridors at the mine on April 5, 2010 killing 29 men. (AP Photo/Jeff Gentner, File)

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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