The Law Offices of Frank R. Cruz announces an investigation of Peabody Energy Corporation (“Peabody” or the “Company”) (NYSE: BTU) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On September 28, 2018, Peabody announced 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, the Company’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 results 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 resume at the mine until the “early months of 2020.”
On this news, the Company’s stock price fell $3.80, or 11%, to close at $32.05 per share on February 6, 2019, thereby injuring investors further.
Then, on October 29, 2019, Peabody disclosed that operations at the North Goonyella mine would not resume for three or more years due to local regulators’ strict restrictions.
On this news, the Company’s stock price fell $3.56, or 22%, to close at $12.48 per share on October 29, 2019, thereby injuring investors further.
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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007