The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Peabody Energy Corporation (NYSE: BTU) who purchased shares between April 3, 2017 and October 28, 2019. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Peabody lawsuit alleges that (a) the Company had failed to implement adequate safety controls at the North Goonyella mine to prevent the risk of a spontaneous combustion event; (b) the Company failed to follow its own safety procedures; (c) as a result, the North Goonyella mine was at a heightened risk of shutdown; (d) the Company’s low-cost plan to restart operations at the mine posed unreasonable safety and environmental risks; (e) The Australian body responsible for ensuring acceptable health and safety standards, the Queensland Mines Inspectorate, would likely mandate a safer, cost-prohibitive approach; and (f) as a result, there would be major delays in reopening the North Goonyella mine and restarting coal production.
Shareholders have until November 27, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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