BIRMINGHAM, Ala., April 25, 2012 (GLOBE NEWSWIRE) -- Burke, Harvey & Frankowski, LLC announces the commencement of an investigation into Alpha Natural Resources, Inc. ("ANR" or the "Company") to determine whether it has violated securities laws by allegedly issuing false and misleading statements with respect to ANR's June 1, 2011 Merger with the former Massey Energy Co. ("Massey"). After the Merger was completed, ANR gradually disclosed very serious problems that the Company was experiencing at its Emerald mine in southwestern Pennsylvania, one of the Company's most important coal mines. During 2011, the Emerald mine shipped almost one million fewer tons of coal than the Company had estimated pre-Merger. The price of ANR common stock has fallen approximately 72% since the Merger was completed.
Prior to the Merger, the Company indicated that any problems at its Emerald mine would be resolved by the end of June 2011. Instead, and as made publicly known in the months following the Merger, ANR's problems at its Emerald mine were far more severe and potentially long-lasting than the Company had previously disclosed.
As the true severity of the problems at the Emerald mine was revealed, and as the Emerald mine shipped significantly less coal than the Company had previously estimated, ANR's costs of coal production rose dramatically. We are investigating whether the Company properly disclosed the problems at Emerald mine in the Registration Statement and other relevant documents it issued in connection with its June 1, 2011 Merger involving Massey Energy Co.
What You Can Do
If you were a Massey shareholder and you acquired shares of ANR in the June 1, 2011 Merger, you may have legal claims under the securities laws. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Richard Frankowski at Burke, Harvey & Frankowski, LLC via email at firstname.lastname@example.org or via toll-free telephone at (888) 930-9091. There is no cost to you.
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