BENSALEM, Pa.–(BUSINESS WIRE)–$BTU #CLASSACTION–Law Offices of Howard G. Smith announces an investigation on behalf of Peabody Energy Corporation (“Peabody” or the “Company”) (NYSE: BTU) investors concerning the Company’s possible violations of federal securities laws.
On September 28, 2018, Peabody issued a press release announcing that it did “not expect any production from North Goonyella in the fourth quarter of 2018” due to a fire occurring within the mine.
On this news, Peabody’s stock price fell $5.54, or over 13%, to close at $35.64 per share on September 28, 2018, thereby injuring investors.
Then, on February 6, 2019, Peabody reported disappointing financial earnings for fourth quarter 2018 due to remediation costs and lack of production at the North Goonyella mine. The Company also announced that production would not “begin to ramp up in the early months of 2020.”
On this news, Peabody’s stock price fell $3.80, or 11%, to close at $32.05 per share on February 6, 2019, thereby injuring investors further.
Finally, on October 29, 2019, Peabody disclosed that restarting operations at the North Goonyella mine would not resume for three or more years due to local regulator QMI’s strict restrictions.
On this news, Peabody’s stock price fell $3.56, or 22%, to close at $12.48 per share on October 29, 2019, thereby injuring investors further.
If you purchased Peabody securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.