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If you purchased shares of Walter Energy, Inc. (NYSE: WLT) including those who purchased WLT stocks between April 20, 2011 and September 11, 2011, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
San Diego, Jan. 23, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Walter Energy, Inc. (NYSE:WLT) over potential securities laws violations by certain officers and directors at Walter Energy was announced.
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 violated federal securities laws. Specifically, the investigation concerns whether certain statements Walter Energys business, its prospects and its operations were potentially materially false and misleading at the time they were made.
Walter Energy, Inc. reported that its annual revenue rose from $774.79million in 2007 to $1.58billion in 2010 and its Net Income increased from $112million for 07 to $395.43million in 2010. Walter Energy reported that its third quarter Revenue increased from $464.26million in 2010 to $690.07million in 2011, however its third quarter Net Income fell from $136.22million in 2010 to $76.22million in 2011.
Shares of Walter Energy, Inc. (Public, NYSE:WLT) surged from as low as $12.65 per share in December 08 to as high as $141.17 per share on April 8, 2011.
Since then NYSE WLT shares dropped down to under $60 in early January 2012.
