NEW YORK, Oct. 1, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announced that a class action lawsuit has been filed on behalf of investors who purchased the common stock of Patriot Coal Corporation ("Patriot") (OTCBB:PCXCQ) during the period from October 21, 2010 to July 6, 2012 and is seeking to recover investors' damages from violations of federal securities laws.
To join the Patriot class action, visit the Rosen Law Firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The securities class action alleges that defendants issued materially false financial statements for Patriot by capitalizing the costs of an expensive environmental remediation program, rather than expensing the costs as incurred. As a result, Patriot reported materially greater net income than actually earned under generally accepted accounting principles.
If you wish to serve as lead plaintiff, you must move the Court no later than November 21, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at email@example.com. You may also visit the firm's website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm P.A. 275 Madison Avenue, 34th Floor New York, New York 10016 Tel: (212) 686-1060 Weekends Tel: (917) 562-8616 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 firstname.lastname@example.org email@example.com www.rosenlegal.comSource: The Rosen Law Firm PA PC