PEABODY ENERGY INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Peabody Energy Corp. – BTU
9 months ago
PEABODY ENERGY INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Peabody Energy Corp. - BTU
NEW ORLEANS, Feb. 5, 2021 Former Attorney General PEABODY of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Peabody Energy Corp. (NYSE: BTU).
On September 28, 2018, a fire erupted at the Company’s North Goonyella mine, resulting in operations being suspended indefinitely. Following a series of negative disclosures relating to delays in resuming operations at the mine, on October 29, 2019, the Company disclosed that regulators were placing severe restrictions on restarting operations resulting in drastic adjustments to its reentry plan, ultimately announcing a minimum three year delay. Peabody Energy, headquartered in St. Louis, Missouri, is the largest private sector coal company in the world. Its primary business consists of the mining, sale, and distribution of coal, which is purchased for use in electricity generation and steelmaking
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether Peabody’s officers and/or directors breached their fiduciary duties to Peabody’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Peabody shares and would like to discuss your legal rights, you may, without obligation or cost to you
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
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