"Delaware Judge asked To Block Massey Energy Deal"

"WILMINGTON, Del. -- Shareholders of Massey Energy Co. asked a judge on Thursday to block the company's pending acquisition unless they are allowed to pursue claims that company directors ignored safety for profits and should be held accountable for a mine explosion that killed 29 workers last year.

The shareholders claim that if the $7 billion deal is allowed to close, their derivative claims will be lost, and the Massey directors will be allowed to escape responsibility for leaving the company so damaged that they were forced to sell it to Abingdon, Va.-based with by Alpha Natural Resources at a discount in an effort to shield themselves from liability."

Randall Chase reports for the Associated Press May 26, 2011,

Friday, May 27, 2011