Tuesday, May 15, 2007

UPDATE 1-Massey says lawsuit penalty estimates 'unfounded'

(Reuters) - "It is the company's opinion that the current suit will be resolved in a reasonable manner and that recent speculation about maximum penalties is unfounded," Massey said.

One analyst said the company's liability for the lawsuit could be nearly $2 billion under the claims filed last week that the fourth-largest U.S. coal producer had violated its pollution permits on thousands of occasions.


Read more at Reuters.com Government Filings News

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