An investigation on behalf of investors of Walter Energy, Inc. (NYSE:WLT) shares over potential breaches of fiduciary duties by certain officers and directors of Walter Energy, Inc. was announced and NYSE:WLT investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/29/2012 -- Certain officer and directors of Walter Energy, Inc. (NYSE:WLT) are under investigation over possible breaches of fiduciary duties in connection with certain financial statements.
Investors who are current long term stockholders 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 focuses on possible claims on behalf of purchasers of the securities of Walter Energy, Inc. (NYSE:WLT) concerning whether the company, certain of its officers and directors, or others have possibly breached their fiduciary duties owed to NYSE:WLT stockholders. Specifically, the investigation concerns whether certain statements about Walter Energy’s business, its prospects and its operations were potentially materially false and misleading at the time they were made.
Walter Energy, Inc. (NYSE:WLT) reported that its annual Revenue increased from over $1.58 billion in 2010 to over $2.56 billion in 2011. However, its Net Income fell from $385.80 million in 2010 to $349.18 million in 2011.
Shares of Walter Energy, Inc. (NYSE:WLT) fell from over $140 in April 2011 to as low as $32.03 per share in July 2012.
On August 28, 2012, NYSE:WLT shares closed at $34.08 per share.
Those who purchased shares of Walter Energy, Inc. (NYSE:WLT), have certain options and 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