Bernstein Liebhard LLP is investigating whether the Board of Directors of Massey Energy Company (“Massey” or the “Company”) MEE breached its fiduciary duty to its shareholders in agreeing to sell Massey to Alpha Natural Resources, Inc.
Under the terms of the agreement, Massey shareholders will receive 1.025 shares of Alpha common stock and $10.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Massey shareholders and the process by which the Massey Board of Directors considered and approved the transaction.
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