NEW YORK, April 9, 2010 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC is investigating possible securities laws violations by Massey Energy Company ("Massey" or the "Company") (NYSE:MEE). The investigation focuses on whether a series of statements made by the Company regarding the safety of its coal mines and operations were materially false and misleading when made.
On April 5, 2010, an explosion erupted at Massey's Upper Big Branch mine in West Virginia, killing 25 workers. The explosion was one of the worst mining disasters in the United States in the past two decades. While the cause of the blast is not yet known, the operation run by Massey subsidiary Performance Coal Co. has had a history of violations for not properly ventilating highly combustible methane gas, according to safety officials.
The day after the explosion, Massey's shares plummeted $6.24 per share, or 11.4%.
If you are aware of any facts relating to this investigation, or purchased shares of Massey, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate work, private securities offerings, and securities arbitration.