NEW YORK, July 2, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Peabody Energy Corporation ("Peabody Energy" or the "Company") (NYSE: BTU). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Peabody Energy and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 30, 2015, Reuters re-published a story (originally published on June 4) reporting that the U.S. Department of Interior is examining Peabody'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. On Reuters' review, Peabody failed to meet federal self-bonding criteria with respect to net worth, current assets and total liabilities at the end of 2014. On this adverse news, Peabody shares fell $0.44, or nearly 17%, to close at $2.19. On July 1, 2015,
Peabody reported that it expects to report lower Q2 earnings and EBITDA. On this adverse news, Peabody shares have fallen as much as $0.41, or more than 18.7%, in intraday trading.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP