Walter Energy and Audley Capital Advisors are relying on outside PR counsel as hedge fund Audley wages a proxy fight for five of the nine spots on WE's board.

Audley Capital, based in London, has nominated five directors and is lobbying shareholders as it says WE shares are undervalued. The company stock has dropped more than 50% over the past year. AC has engaged Sard Verbinnen & Co for PR counsel and proxy/IR firm Okapi Partners for support in New York.

Walter Energy, which produces coal for the global steel industry and is based in Birmingham, Ala., today blasted Audley's slate, saying its proxy statement contains "serious omissions" like insider trading charges and deficient governance, among other "troubling aspects."

WE is working with Kekst and Company. Mark Tubb is VP of IR and strategic planning for the company. 

 WE's 2012 revenue were $2.4B with a net loss of $1.1B.