Replies to post #4614 on Patriot Coal Corporation (fka PCXCQ)

[56Chevy]

Post BK buyers - no hope..and for obvious reasons..they knew what they were buying.

Pre-BK buyers - Maybe although there is no hope for Sam...lol... just kidding Sam ;). These kinds of class action suits are reasonably common in a BK but it can be tough to prove fraud.

Directors and officer's are covered by company provided liability insurance but if found guilty can still face jail time.

If there was fraud it was a well kept secret because one of the Directors bought 1,000 share @ $22.56 on May 16, 2011 and another 2,000 shares @ $9.16 Feb. 6th, 2012. (He recently sold 24,991 @ .1345 Sept. 17th of this month). Plus many of the Officers sold for big losses recently <see link below>.

http://www.secform4.com/insider-trading/1376812.htm

You'd have to think if there was willing fraud re: financials they may have bailed alot sooner. I mean they would know if they cooked their own books right! I dunno...that will be for the courts to decide.

Any cases involving fraud will be completely separate from the BK case and can take a long time to resolve. I.e the Thornburg case.

To read about a simular shareholder type lawsuit:

http://www.fins.com/Finance/Articles/SBB0001424052970204826704577074741840773010/Corzine-Directors-Sued-by-MF-Global-Employees

Any PCX shareholder who has questions can contact the law firm.

Good Luck
Chevy