A Deadline is coming up on November 21, 2012 in the lawsuit for investors in Patriot Coal Corporation (PINK:PCXCQ) and PINK:PCXCQ stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 11/06/2012 --A deadline is coming up on November 21, 2012 in the lawsuit filed for investors of Patriot Coal Corporation (PINK:PCXCQ) over alleged securities laws violations by certain officers of Patriot Coal Corporation.

Investors with a substantial investment in Patriot Coal Corporation (PINK:PCXCQ) shares between October 21, 2010 and July 6, 2012, should get active before the Deadline that is coming up on November 21, 2012, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Eastern District of Missouri the plaintiff alleges on behalf of purchasers of Patriot Coal Corporation (PINK:PCXCQ) shares between October 21, 2010 and July 6, 2012, that certain of Patriot Coal's officers issued between October 21, 2010 and July 6, 2012materially false and misleading statements regarding the Company's business prospects.

Specifically, the plaintiff alleges that defendants allegedly violated Generally Accepted Accounting Principles and U.S. Securities and Exchange Commission ("SEC") rules by failing to properly account for costs associated with Court-ordered remediation obligations related to the Company's selenium water treatment requirements. In particular, so the plaintiff, defendants improperly capitalized these costs instead of recording them as expenses, thereby overstating the Company's financial results.

Furthermore, so the lawsuit, the defendants were also making allegedly false and misleading statements about Patriot Coal’s business health and continuing prospects. In particular, so the plaintiff, the defendants continuously touted that Patriot Coal’s "operations are performing well" and that the Company is positioned for "future growth."

However, in July 2012, Patriot Coal Corporation and substantially all of its wholly owned subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York.

Those who purchased with a substantial investment in Patriot Coal Corporation (PINK:PCXCQ) shares between October 21, 2010 and July 6, 2012, should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com