Massey Energy Appoints Committee for Stockholder Litigation Review

Published on Monday, 16 August 2010 15:42 Written by TradersHuddle Staff

RICHMOND, Va., Aug. 16 /PRNewswire-FirstCall/ -- Massey Energy Company (NYSE: MEE) announced today that it has appointed a committee of two independent members of its Board of Directors to review all pending shareholder litigation and a related shareholder demand.

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The two Directors appointed to the committee have just joined the Board: Mr. Robert B. Holland III and Ms. Linda J. Welty.

"In our effort to be fully responsive to stockholder concerns, we have appointed this committee of two new Directors to provide the Board of Directors a fresh yet informed analysis of the issues raised in a number of shareholder derivative suits and a related shareholder demand brought by stockholders," said Admiral Bobby R. Inman, Lead Independent Director of Massey Energy. "Their evaluation should provide us with valuable guidance on what steps the company should take in connection with these lawsuits."

Massey Energy Company, headquartered in Richmond, Virginia, with operations in West Virginia, Kentucky and Virginia, is the largest coal producer in Central Appalachia and is included in the S&P 500 Index.

SOURCE Massey Energy Company