After years of delay, former stockholders of Massey Energy Co. have lost standing to bring a derivative suit against company executives over a 2010 mine explosion that killed 29 workers, the Delaware Court of Chancery said on Thursday.
May 04, 2017 at 02:49 PM
1 minute read
After years of delay, former stockholders of Massey Energy Co. have lost standing to bring a derivative suit against company executives over a 2010 mine explosion that killed 29 workers, the Delaware Court of Chancery said on Thursday.
In a 49-page opinion, Chancellor Andre G. Bouchard said the claims of two pension funds, which formerly held stock in Massey, were extinguished when the company was purchased in the wake of the disaster.
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