Western Coal Corp. and some of its executives are facing a $220 million lawsuit from investors for allegedly breaking securities laws for personal financial gain.
Kim Orr Barristers P.C. said in a statement that it filed a class action lawsuit on behalf of investors in the company. The suit includes "certain executives" of Western Coal including President and Chief Executive John W. Hogg, the statement said.
Western Coal in a separate statement said it was aware of the class action suit, which was filed in the Ontario Superior Court of Justice on Nov. 20.
"The company believes these allegations are without merit and intends to vigorously defend them as well as the plaintiff's attempt to obtain court approval to proceed with the action," the statement said.
