An investigation on behalf of current long term investors in Peabody Energy Corporation (NYSE:BTU) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 02/22/2021 -- An investigation was announced over potential breaches of fiduciary duties by certain directors of Peabody Energy Corporation.
Investors who are current long term investors in Peabody Energy Corporation (NYSE: BTU) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: BTU stocks follows a lawsuit filed against Peabody Energy Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: BTU stocks, concerns whether certain Peabody Energy Corporation directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants failed to disclose, and would continue to omit, the following adverse facts pertaining to the safety practices at the Company's North Goonyella mine, which were known to or recklessly disregarded by Defendants the Company had failed to implement adequate safety controls at the North Goonyella mine to prevent the risk of a spontaneous combustion event, the the Company failed to follow its own safety procedures, and as a result, the North Goonyella mine was at a heightened risk of shutdown.
The plaintiff alleges that the 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 the Company's low-cost plan to restart operations at the mine posed unreasonable safety and environmental risks, the Australian body responsible for ensuring acceptable health and safety standards, the Queensland Mines Inspectorate, would likely mandate a safer, cost-prohibitive approach, and as a result, there would be major delays in reopening the North Goonyella mine and restarting coal production.
Those who purchased shares of Peabody Energy Corporation (NYSE: BTU) have certain options and should contact the Shareholders Foundation.
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