NEW YORK, July 6, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Peabody Energy Corporation ("Peabody Energy" or the "Company") (NYSE: BTU).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the U.S. Department of the Interior might be examining Peabody Energy's eligibility for self-bonding, a government program that gives coal companies a discount on the costs of insuring their clean-ups in case of bankruptcy; (2) the Company did not fully comply with federal self-bonding criteria in regards to net worth, current assets and total liabilities at the end of fiscal year 2014.
The information was made available to the public in a Reuter article, re-published on June 30, 2015. On this news, Company share price fell $0.44, or nearly 17%, to close at $2.19 on that day.
Further, on July 1, 2015, Company share price fell again after Peabody Energy announced lower expected Q2 earning compared to last year's projected forecast. During intraday trading on July 1, Company share price declined $0.33, or more than 15.6%, to close at $1.78.
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If you invested in Peabody Energy stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/BTU. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Peabody Energy's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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