NEW YORK, June 26, Jun 26, 2020 (GLOBE NEWSWIRE via COMTEX) -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Contura Energy, Inc. /zigman2/quotes/200251330/composite CTRA -4.58% resulting from allegations that Contura may have issued materially misleading business information to the investing public.
In December 2017, Contura sold several of its mines and other assets to Blackjewel L.L.C. In November 2018, Contura merged with Alpha Natural Resources Holdings, Inc. and ANR, Inc. (the "Merger"). According to the registration statement issued in connection with the Merger, Contura disclosed that it had agreed to backstop certain of Blackjewel's bonding obligations to facilitate the permit transfer for the mines and that Blackjewel would enter into financing by June 30, 2019 sufficient to release Contura from such obligations. On July 1, 2020, Blackjewel filed for Chapter 11 bankruptcy. Contura repurchased the mines and sold the same assets to Eagle Specialty Materials, LLC, whereby Contura would pay $90 million to Eagle Specialty to acquire the mines and assume the related reclamation obligations. Contura's stock price has plummeted since the Merger.
Rosen Law Firm is preparing a securities lawsuit on behalf of Contura shareholders. If you purchased securities of Contura please visit the firm's website at http://www.rosenlegal.com/cases-register-1877.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at mailto:email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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