Alabama – Walter Energy Inc. and British hedge fund manager Julian Treger have turned up the heat in the ongoing fight over control of the Birmingham company’s board of directors.
In a letter being mailed to shareholders Walter Energy Chairman Michael T. Tokarz and CEO Walter J. Scheller claim that Treger has misrepresented the experience of his candidates for the Walter Energy board and offered a candidate who faces insider trading allegations in Canada. They also allege that Treger’s plan is to drive up the price of Walter Energy stock in a “hit and run,” and then sell it “in order to take immediate profits.”
