The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announced that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Alabama on behalf of purchasers of the common stock of Walter Energy, Inc between April 20th 2011 and September 21st 2011.

The Complaint alleges that Walter and certain of its officers and directors violated the federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) that Walter was experiencing so-called "squeeze" events in Alabama and lower coal transportation rates in Canada that significantly reduced Walter's coal production; (ii) that the Company's commitment to ship more than 700,000 tons of coal in the second quarter at first quarter sales prices would result in a material adverse effect on Walter's average sales prices and operating results; and (iii) that Walter was experiencing a significant decline in its margins and profitability.

On August 3rd, 2011, Walter announced its operating results for the period ended June 30th 2011. Walter announced net income of USD 107.4 million, significantly less than Wall Street estimates. Then, On September 21st 2011, Walter announced its attempt to enhance its historical statistical disclosure and its revisions to its 2011 second half sales expectations. On this news, Walter stock fell from USD 75.00 on September 20th 2011 to USD 66.25 on September 21st 2011.

If you are a member of the class, you may, no later than March 26, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.