Peabody Energy Corporation (BTU)
Class Action & Lead Plaintiff Deadline: November 27, 2020
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Peabody Energy Corporation ("Peabody" or "the Company") (NYSE: BTU) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Peabody securities between April 3, 2017 and October 28, 2019, both dates inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements that: (1) the Company had failed to implement adequate safety controls at the North Goonyella mine to prevent the risk of a spontaneous combustion event; (2) the Company failed to follow its own safety procedures; and (3) as a result, the North Goonyella mine was at a heightened risk of shutdown. Further, according to the lawsuit, following the September 28, 2018 fire and throughout the remainder of the Class Period, defendants failed to disclose, and would continue to omit, the following adverse facts pertaining to the feasibility of Peabody’s plan to restart the North Goonyella mine: (1) the Company’s low-cost plan to restart operations at the mine posed unreasonable safety and environmental risks; (2) the Australian body responsible for ensuring acceptable health and safety standards, the Queensland Mines Inspectorate ("QMI"), would likely mandate a safer, cost-prohibitive approach; and (3) as a result, there would be major delays in reopening the North Goonyella mine and restarting coal production. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Peabody you have until November 27, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.