| Company: | International Coal Group, Inc. |
| Ticker Symbol: | NYSE: ICO |
| Class Period: | November 18, 2005 to October 4, 2006 |
| Date Filed: | Apr-05-07 |
| Lead Plaintiff Deadline: | Jun-04-07 |
| Court: | Southern District, WV |
| Allegations: |
A class action has been commenced on behalf of institutional investors in the United States District Court for the Southern District of West Virginia on behalf of all persons who acquired International Coal Group, Inc. ("ICG") (NYSE:ICO) common stock in connection with and traceable to ICG's common stock offerings which took place on or about November 21, 2005 and December 7-8, 2005 (the "Offerings"). The Class Period is November 18, 2005 to October 4, 2006.
The complaint charges ICG and certain of its officers and directors and its underwriters with violations of the Securities Act of 1933. ICG is a coal producer with operations in West Virginia, Kentucky, Maryland and Illinois.
The complaint alleges that in November and December 2005, ICG undertook two integrated stock transactions involving Registration Statements filed and effective with the SEC. The Offerings were mutually interdependent. The statements in the November and December 2005 Registration Statements concerning the Company's business, the strength of its management team, its safety and maintenance practices, its ability to capitalize on favorable market conditions, its ability to deliver optimum selections of coal to meet increasing demand, and its acquisition of the Anker Coal Company and company reorganization were all false and misleading when made. In fact, the Company was suffering from serious shortfalls in its maintenance and safety procedures, its mines were ill-equipped, as were its miners, the Anker acquisition had been a mistake, saddling the Company with outmoded and dangerous mining operations, the Company's top management team was distracted by work involved in the November 2005 reorganization and December 2005 offering and the Company would be unable to produce sufficient amounts of coal in desired mixes to meet its revenue and earnings and production forecasts. After the November and December 2005 Registration Statements became effective, information entered the marketplace in a series of company-specific negative revelations contradicting the prior representations made and demonstrating the falsity of the Registration Statements. As a result, the Company's stock price declined sharply, damaging Class members who purchased the stock issued by the Company in the Offerings.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The complaint charges ICG and certain of its officers and directors and its underwriters with violations of the Securities Act of 1933. ICG is a coal producer with operations in West Virginia, Kentucky, Maryland and Illinois.
The complaint alleges that in November and December 2005, ICG undertook two integrated stock transactions involving Registration Statements filed and effective with the SEC. The Offerings were mutually interdependent. The statements in the November and December 2005 Registration Statements concerning the Company's business, the strength of its management team, its safety and maintenance practices, its ability to capitalize on favorable market conditions, its ability to deliver optimum selections of coal to meet increasing demand, and its acquisition of the Anker Coal Company and company reorganization were all false and misleading when made. In fact, the Company was suffering from serious shortfalls in its maintenance and safety procedures, its mines were ill-equipped, as were its miners, the Anker acquisition had been a mistake, saddling the Company with outmoded and dangerous mining operations, the Company's top management team was distracted by work involved in the November 2005 reorganization and December 2005 offering and the Company would be unable to produce sufficient amounts of coal in desired mixes to meet its revenue and earnings and production forecasts. After the November and December 2005 Registration Statements became effective, information entered the marketplace in a series of company-specific negative revelations contradicting the prior representations made and demonstrating the falsity of the Registration Statements. As a result, the Company's stock price declined sharply, damaging Class members who purchased the stock issued by the Company in the Offerings.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
