Investigation announced for Investors in shares of Contura Energy, Inc. (NYSE: CTRA)

An investigation was announced concnering potential securities laws violations by Contura Energy, Inc. in connection with certain financial statements.

Investors who purchased shares of Contura Energy, Inc. (NYSE: CTRA), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Contura Energy, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

In December 2017, Contura Energy, Inc sold several of its mines and other assets to Blackjewel L.L.C. In November 2018, Contura Energy, Inc 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 Energy, Inc 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.

Shares of Contura Energy, Inc. (NYSE: CTRA) declined from $79.20 per share in Octboer 2018 to as low as $1.93 per share on March 24, 2020.

Those who purchased shares of Contura Energy, Inc. (NYSE: CTRA) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.