CHICAGO, April 24, 2007 (PRIME NEWSWIRE) -- David B. Kahn & Associates, Ltd., a law firm with substantial expertise in prosecuting investor class actions involving financial fraud, announced that a securities class action lawsuit was filed in the United States District Court for the Southern District of West Virginia on behalf of shareholders who purchased or otherwise acquired the securities of International Coal Group, Inc. ("ICG" or the "Company") (NYSE:ICO) in connection with and traceable to ICG's common stock offerings which took place on or about November 21, 2005 and December 7-8, 2005. The Class Period is November 18, 2005 through October 4, 2006, inclusive (the "Class Period").
ICG is a coal producer which operates in West Virginia, Kentucky, Maryland and Illinois. The Complaint charges ICG, and certain of the Company's officers directors and/or underwriters with violations of federal securities laws. Specifically, the 2005 Registration Statements and subsequent information divested to the public regarding the Company's business, the strength of its management team, its safety and maintenance practices, its ability to capitalize on favorable market conditions, its ability to meet increasing demand and its acquisition of the Anker Coal Company and company reorganization were all false and misleading when made. As a result, the Company's stock price became artificially inflated, thereby resulting in damages to its investors.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain counsel. If you purchased ICG common stock between November 18, 2005 and October 4, 2006, you have certain rights and have until June 4, 2007 to move to be appointed as a Lead Plaintiff. A Lead Plaintiff is a representative, chosen by the Court, who acts on behalf of other class members in directing the litigation.
The Law office of David B. Kahn & Assoc. has been actively engaged in commercial litigation in federal and state courts throughout the United States for more than 20 years. David B. Kahn & Assoc. has been appointed lead or co-lead counsel in similar cases by a number of United States District Courts and has extensive experience litigating on behalf of aggrieved investors and shareholders.
If you wish to discuss this action, have any questions concerning this notice, or would like to consider serving as a lead plaintiff in this action, please contact Mark E. King at (847) 501-5083 or via e-mail at mking@kahnlawchicago.com. You may learn more about David B. Kahn & Assoc. by visiting the firm's website at www.kahnlawchicago.com.