San Diego, CA -- (SBWIRE) -- 03/27/2012 -- Certain directors and officers of Walter Energy, Inc. are under the investigation for current long term investors in Walter Energy, Inc. (NYSE:WLT) shares over possible breaches of fiduciary duties in connection with certain of its financial statements.
Investors who are current long term investors in Walter Energy, Inc. (NYSE:WLT) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Walter Energy, Inc. (NYSE:WLT) stocks follows a lawsuit filed earlier by shareholders who purchased NYSE:WLT shares only between April 20, 2011 and September 21, 2011. The plaintiff alleges that Walter Energy violated Federal Securities Laws by issuing allegedly materially false and misleading statements regarding Walter Energy’s business and prospects.
The investigation on behalf of current long term investors in Walter Energy, Inc. (NYSE:WLT) stocks, including also those who purchased within or prior to the above stated time frame, concerns whether certain Walter Energy officers and directors breached their fiduciary duties owed to NYSE:WLT stockholders and can be held liable in connection with the allegations made in that lawsuit.
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 are current long term investors in Walter Energy, Inc. (NYSE:WLT) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego