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Massey Energy Company
has added a news release to its Investor Relations website.
Title: West Virginia Supreme Court Sides
Again with Massey Energy: Overturns $76 Million Judgment in Harman Case
Date: 4/3/2008 5:31:00
PM
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CHARLESTON, W.Va., April 3, 2008, 2008
/PRNewswire-FirstCall via COMTEX News Network/ -- The West Virginia Supreme
Court today again overturned a $76 million judgment against Massey Energy
Company (NYSE: MEE).
(Logo: http://www.newscom.com/cgi-bin/prnh/20071031/MASSEYENERGYLOGO )
"As we said
previously, we have always believed that the verdict in the lower court was
wrong and we are pleased that the WV Supreme Court has once again
agreed," said Shane Harvey, Massey's General Counsel.
The Supreme Court set
aside a 2002 ruling by the Circuit Court in Boone County that awarded $50
million to Harman Mining Corporation and its president, Hugh Caperton. Interest
charges added to the award while the case was on appeal had increased
Massey's total potential liability in the case to $76 million.
The case involved a
contract dispute between Massey and Harman Mining Corporation that began in
1997. Harman filed for bankruptcy a year later and sued Massey and its
affiliates in both Virginia and West Virginia. The lawsuits in both states
stemmed from the same contract dispute.
Company Description
Massey Energy Company,
headquartered in Richmond, Virginia, with operations in West Virginia,
Kentucky and Virginia, is the fourth largest coal company in the United
States based on produced coal revenue.
SOURCE Massey Energy Company
http://www.masseyenergyco.com |