GlobeNewswire Inc | Oct 15, 2020 11:30AM EDT

October 15, 2020

BENSALEM, PA., Oct. 15, 2020 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smithreminds investors of the upcomingNovember 27, 2020deadline to file a lead plaintiff motion in the class action filed on behalf ofinvestors who purchased Peabody Energy Corporation(Peabody or the Company) (NYSE:BTU): common stock betweenApril 3, 2017andOctober 28, 2019, inclusive (the Class Period).

Investors suffering losses on theirPeabodyinvestments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email tohowardsmith@howardsmithlaw.com.

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.

On this news, Peabodys 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 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.

On this news, Peabodys stock price fell $3.80, or 11%, to close at $32.05 per share on February 6, 2019, thereby injuring investors further.

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 QMIs strict restrictions.

On this news, Peabodys stock price fell $3.56, or 22%, to close at $12.48 per share on October 29, 2019, thereby injuring investors further.

The complaint alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Peabody had failed to implement adequate safety controls at the North Goonyella mine to prevent the risk of a spontaneous combustion event; (2) Peabody failed to follow its own safety procedures; (3) as a result, the North Goonyella mine was at a heightened risk of shutdown; (4) Peabodys low-cost plan to restart operations at the North Goonyella mine posed unreasonable safety and environmental risks; (5) the Queensland Mines Inspectorate (QMI), the Australian body responsible for ensuring acceptable health and safety standards, would likely mandate a safer, cost-prohibitive approach; (6) as a result, there would be major delays in reopening the North Goonyella mine and restarting coal production; and (7) that, as a result, of the foregoing, Defendants statements about the Peabodys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased Peabody common stock, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email tohowardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

ContactsLaw Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com