Peabody faces securities class actions over Centurion mine disclosures

Peabody Energy Corporation and certain executives are facing securities class action claims alleging investors were misled about commissioning progress, production volumes and costs at the Centurion metallurgical coal mine in Queensland, Australia. The proposed class covers investors who bought or acquired Peabody common stock between October 14, 2024 and May 4, 2026, and investors have until Aug. 24, 2026 to seek appointment as lead plaintiff in McGeachy v. Peabody, et al., No. 26-cv-01020, filed in the U.S. District Court for the Eastern District of Missouri. The complaints focus on Peabody’s February 5, 2026 statements that it was finishing installation work, had started mining and expected about 700,000 tons in the first quarter, roughly 1 million to 1.1 million tons in the second and third quarters, and 3.5 million tons for the year as longwall operations ramped up. Plaintiffs allege the mine was actually facing significant commissioning challenges that increased costs and reduced output. On March 30, 2026, Peabody disclosed in an SEC filing that Centurion was expected to deliver about 250,000 tons in the first quarter, which the complaints characterize as a roughly 64% cut from prior expectations, and said the shortfall reflected greater-than-anticipated commissioning challenges. Peabody shares fell $3.82, or 9.7%, from $39.50 on March 27 to $35.68 on March 30. On May 5, 2026, Peabody said temporary mechanical and electrical issues had emerged during commissioning, projected about 300,000 tons in second-quarter sales, and cut its full-year Centurion sales outlook to 2.5 million tons from 3.5 million tons; the stock fell $1.52, or 5.7%, from $26.52 on May 4 to $25.00 on May 5, though one source describes that day’s decline as nearly 6%. A July 14, 2026 notice from Glancy Prongay Wolke & Rotter LLP repeats the Aug. 24 deadline and frames the case around allegations that Peabody’s March 2026 ramp-up target and related guidance were overly optimistic, causing investors to be harmed when the company later lowered output expectations and reduced full-year metallurgical segment guidance.