San Diego, CA -- (SBWIRE) -- 02/29/2012 -- A deadline is coming up on March 26, 2012 in the lawsuit filed for certain investors in NYSE:WLT shares over alleged False and Misleading Statements made by Walter Energy, Inc.
Investors with a substantial investment in Walter Energy, Inc. (NYSE:WLT) shares between April 20, 2011 and September 21, 2011, should get active before the Deadline 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 Northern District of Alabama the plaintiff alleges on behalf of purchasers of the common stock of Walter Energy, Inc. (NYSE: WLT) between April 20, 2011 and September 21, 2011, that Walter Energy and certain of its officers and directors violated the Securities Exchange Act of 1934 by allegedly issuing materially false and misleading statements regarding Walter Energy’s business and prospects.
On August 3, 2011, Walter Energy, Inc. reported its operating results for its 2011 fiscal second quarter, the period ended June 30, 2011. For the quarter, Walter Energy, Inc. announced net income of $107.4 million, or $1.71 per diluted common share. The plaintiff claims that this is significantly less than Wall Street estimates.
Then, On September 21, 2011, Walter Energy, Inc. announced its attempt to “enhance” its historical statistical disclosure and its revisions to its 2011 second half sales expectations.
Since April 2011, NYSE WLT shares dropped down to under $60 in early January 2012.
Those who purchased shares of Walter Energy, Inc. (NYSE: WLT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego