A shareholders derivative suit against the board of Massey Energy — the West Virginia coal company with a controversial safety and environmental record — has the potential to go from bad to worse for plaintiffs lawyers from Barroway Topaz Kessler Meltzer & Check.
On Sept. 30, in a 31-page ruling, Charleston, W. Va., federal district court judge David Faber dismissed the derivative case, concluding that to the extent the plaintiffs’ claims weren’t already addressed in a 2008 state court settlement, they were barred because shareholders hadn’t shown the futility of a demand to Massey’s board.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
