PROTECT CONSUMER JUSTICE.ORG

Bloomberg BusinessWeek:  The nation’s second-largest public pension fund, the California State Teachers’ Retirement System, has joined two other investors in a shareholder lawsuit against the officers and directors of Massey Energy Co. Massey operates a West Virginia coal mine where an explosion killed 29 workers in April.  The suit says Massey breached its duties to shareholders “by consciously ignoring the company’s obligations to comply with federal and state law.”  According to a CalSTRS release, “The plaintiffs ask the court to ‘hold the individual defendants accountable for their misconduct, and thereby to prevent future disasters.’”

No related posts.