Peabody Energy Faces Shareholder Scrutiny Over Mine Fire

Peabody Energy Corp. was sued Wednesday in the Delaware Chancery Court for making allegedly misleading statements about an Australian coal mine fire.

P. David Pollard, a Peabody shareholder, asked to inspect books and records of Peabody’s board meetings. The shareholder accused the company of misleading investors and failing to disclose material adverse facts about the mine.

Peabody didn’t immediately announce the 2018 fire at Peabody’s North Goonyella mine to investors, the lawsuit said, and the company didn’t mention any fire or smoke at the mine in a securities filing issued a few days later. The filing did ...