CtW claims Massey shares lost 1.4 billion dollars in value since April 5

摘要

In a week that saw Massey Energy revive a 2005 initiative to repurchase shares valued at hundreds of millions of dollars, a shareholder and adversary to Massey management is claiming the company's shares have lost $1.4 billion in value since the April 5 Upper Big Branch accident. CtW Investment Group, an institutional holder in the company, is making the claim, and analysts contacted by Platts don't find fault with CtW's math. The question is whether this loss of shareholder value can be mostly attributed to the explosion at Massey's UBB longwall mine, in which 29 miners died in the nation's worst coal mining accident in 40 years.