Rigrodsky & Long, P.A. Investigates Buyout of International Coal Group, Inc. for Shareholders

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of International Coal Group, Inc. (“ICG” or the “Company”) (NYSE: ICO) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Arch Coal, Inc. (NYSE: ACI) (“Arch Coal”) in a transaction valued at approximately $3.4 billion.

Under the proposed agreement, Arch Coal will commence a tender offer for all of the outstanding shares of ICG for $14.60 per share in cash.

The investigation concerns whether ICG’s board of directors failed to adequately shop the Company and obtain the best price possible for ICG’s shareholders before entering into the agreement with Arch Coal.

On April 27, 2011, ICG announced its first quarter 2011 financial results wherein it reported adjusted EBITDA increased 39% over the first quarter of 2010, record margin of $17.07 per ton and 46% increase over the first quarter of 2010, and metallurgical shipments were up 53% of the first quarter of 2010.  Ben Hatfield, President and CEO of ICG commented: “International Coal Group delivered another strong quarter as our commitment to increasing metallurgical coal production continues to pay dividends[.]…  Steady operational performance at most business units during the quarter, coupled with strong sales prices, resulted in the highest per ton margin in our company's history.  We expect margins to grow in each quarter this year as our metallurgical output is projected to increase and lower-priced sales commitments roll off.”

If you own the common stock of ICG and purchased your shares before May 2, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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