S&P curiously upgraded Massey Energy stock from a “hold” to “buy” this morning, and without unquestioningly reported that Massey would be shielded from lawsuits and had plans to make up for the lost coal. Turns out that Massey filed a shareholder statement with the SEC on Thursday .

In the statement, Massey assures its shareholders that its insurance will cover any lawsuits from the mine explosion, and accuses the media of exaggerating its poor safety record.