The Law Offices of Frank R. Cruz is investigating potential claims against the board of directors of Peabody Energy Corporation (“Peabody” or the “Company”) (NYSE: BTU ) concerning whether the board breached its fiduciary duties to shareholders.
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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.
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.”
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.
Our investigation concerns whether the Company’s board of directors breached its fiduciary duties to shareholders and/or grossly mismanaged the Company in connection with the above alleged misconduct.
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If you still hold Peabody shares purchased before September, 2018 and wish to discuss this matter with us, or have any questions concerning your rights and interests with regards to this matter, 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 firstname.lastname@example.org , 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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SOURCE: The Law Offices of Frank R. Cruz
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