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Massey Energy

347 bytes added, 18:40, 7 June 2011
====Justices deny injunction====
On May 31, 2011, Justices announced their 3-0 vote (with Justices Davis and Benjamin disqualified) [http://www.state.wv.us/wvsca/Clerk/cases/order-denying-injunction.pdf declining to issue] the requested injunction. Justices also voted, though, to unseal at least certain documents in the case, as had been requested in a legal motion filed by The Charleston Gazette and NPR. Unsealed documents filed with the West Virginia Supreme Court showed that lawyers for [[Massey Energy]] shareholders alleged that [[Alpha Natural Resources]] CEO Kevin Crutchfield made a secret deal to hire key Massey executives linked to the [[Upper Big Branch Mine Disaster]]: "Faced with the prospect of a hostile takeover by Alpha and loss of control of the company’s internal investigation and its exculpatory ‘supernatural cause of the explosion … the board, led by Defendant [Bobby] Inman, entered into a secret pact with Alpha CEO Kevin Crutchfield that the Massey Energy officers who were directing the internal investigation would be promised high-ranking positions within the post-merger company. Not coincidentally, the Massey Energy officers in charge of the internal investigation are the ones most culpable for the Upper Big Branch explosion … Defendants have hidden these and other key facts from the company’s shareholders, who are scheduled to vote on the merger at a special meeting set for June 1, 2011, by issuing a materially false and misleading Proxy statement."<ref>Ken Ward Jr., [http://blogs.wvgazette.com/coaltattoo/2011/05/31/documents-alpha-ceo-crutchfield-made-secret-deal-to-hire-massey-execs-linked-to-ubb-disaster/ "Documents: Alpha CEO Crutchfield made secret deal to hire Massey execs linked to UBB disaster"] Coal Tattoo, May 31, 2011.</ref>
 
====Sale approved====
On June 1, 2011, shareholders approved Alpha Natural Resources’ $7.1 billion purchase of Massey Energy, creating the nation’s largest metallurgical coal company.<ref>Clifford Kraus, [http://www.nytimes.com/2011/06/02/business/02coal.html "Shareholders Approve Massey Energy Sale to Alpha"] NY Times, June 1, 2011.</ref>
===Taxes===
20,555

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