The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Peabody Energy Corporation (NYSE: BTU) securities between April 3, 2017 and October 28, 2019.
According to the Peabody lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose 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.
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.
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