IN RE MASSEY ENERGY COMPANY DERIVATIVE AND CLASS ACTION LITIGATION.
Court of Chancery of Delaware.https://leagle.com/images/logo.png
Submitted: May 26, 2011.
Decided: May 31, 2011.
Attorney(s) appearing for the Case
Stuart M. Grant, Esquire, Cynthia A. Calder, Esquire, Abraham Alexander, Esquire, GRANT & EISENHOFER P.A., Wilmington, Delaware; Mark Lebovitch, Esquire, Amy Miller, Esquire, BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, New York, New York; Anita Kartalopoulos, Esquire, Benjamin Y. Kaufman, Esquire, Kent A. Bronson, Esquire, Andrei V. Rado, Esquire, Elizabeth S. Metcalf, Esquire, MILBERG LLP, New York, New York; Nadeem Faruqi, Esquire, Beth A. Keller, Esquire, Faruqi & Faruqi, LLP, New York, New York, Attorneys for Plaintiffs.
Kevin G. Abrams, Esquire, T. Brad Davey, Esquire, ABRAMS & BAYLISS LLP, Wilmington, Delaware, Attorneys for Defendants Dan R. Moore, Richard M. Gabrys, E. Gordon Gee, James B. Crawford, Bobby R. Inman, Robert H. Foglesong, Lady Barbara Thomas Judge, Stanley C. Suboleski, and Nominal Defendant Massey Energy Company.
Ronald S. Rolfe, Esquire, New York, New York; Stuart W. Gold, Esquire, Julie A. North, Esquire, CRAVATH, SWAINE & MOORE LLP, New York, New York, Of Counsel for Defendants Dan R. Moore, Richard M. Gabrys, E. Gordon Gee, James B. Crawford, Bobby R. Inman, Robert H. Foglesong, Lady Barbara Thomas Judge, Stanley C. Suboleski and Nominal Defendant Massey Energy Company.
Kenneth J. Nachbar, Esquire, Jay N. Moffitt, Esquire, Shannon E. German, Esquire, MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware, Attorneys for Defendants J. Christopher Adkins, Don L. Blankenship, Mark A. Clemens, Jeffrey M. Jarosinski, and Baxter F. Phillips, Jr.
Donald J. Wolfe, Jr.,Matthew E. Fischer, Esquire, Scott B. Czerwonka, Esquire, POTTER ANDERSON & CORROON, LLP, Wilmington, Delaware; Mitchell A. Lowenthal, Esquire, Boaz S. Morag, Esquire, Lisa M. Coyle, Esquire, Scott Reents, Esquire, CLEARY GOTTLIEB STEEN & HAMILTON LLP, New York, New York; Michael R. Lazerwitz CLEARY GOTTLIEB STEEN & HAMILTON LLP, Washington, District of Columbia, Attorneys for Defendants Alpha Natural Resources, Inc. and Mountain Merger Sub, Inc.
Court of Chancery of Delaware.
MEMORANDUM OPINION
STRINE, Vice Chancellor.
I. Introduction
The plaintiffs are stockholders of Massey Energy Company, a coal mining corporation with a controversial reputation. Convinced that it knew better than the public authorities charged with enforcing laws designed to make mining a safer and cleaner business, Massey management, with board knowledge, fostered an adversarial relationship with the company's regulators and accepted...
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