An investigation on behalf of current investors of Foundation Coal Holdings, Inc. (NYSE: FCL), who purchased their shares before Tuesday, May 12, 2009May 12, 2009, over possible breaches of fiduciary duty by the board of directors of Foundation Coal Holdings, Inc.

According to the investigation the investigation by a law firm is focusing on possible shareholder claims over possible violations of state law for, among other things, breaches of fiduciary duty in connection with a proposed buyout of Foundation Coal Holdings, Inc. (NYSE: FCL) by Alpha Natural Resources, Inc. Alpha Natural Resources announced Tuesday it plans to buy rival Foundation CoalHoldings for about $1.4 billion in an all-stock deal that would create the nation's third-largest coal producer. Under the terms of the buyout, Foundation Coal Holdings investors will receive 1.084 shares of the new company for each share held (about $32.73 per share), and Alpha shareholders would own the majority with about 59 percent of the combined companies.

According to the investigation, as recently as July 2008, however, FCL stock was trading at over $88.88 per share. The investigation is focused on potential inadequacy of the consideration to be received by investors in Foundation Coal Holdings and potential unfairness in the process by which the merger agreement was entered into. Foundation Coal Holdings, Inc. is a coal producer in the United States. The Company operates a group of 12 individual coal mines located in Wyoming, Pennsylvania and West Virginia. Foundation Coal Holdings, Inc. (NYSE: FCL) is located in Linthicum Heights, MD and had $1.48966billion in total revenue with $32.16million in 2007 and $1.69013billion in total revenue with $11.55million in net income in 2008. Shares of Foundation Coal Holdings, Inc closed on Friday at $26.88 per share, down from a 52weekHigh of $89.72 per share.