Notices from Hagens Berman and Levi & Korsinsky allege Peabody misled investors about ramp-up readiness at its Centurion metallurgical coal mine in Queensland before production, sales and cost guidance worsened.
Investors who bought Peabody Energy securities between Oct. 14, 2024 and May 4, 2026 may seek recovery in a pending securities class action tied to alleged misstatements about the Centurion underground longwall metallurgical coal mine in Queensland, Australia, with an Aug. 24, 2026 deadline to seek lead plaintiff status. The notices from Hagens Berman and Levi & Korsinsky allege Peabody gave investors and analysts an overly positive picture of Centurion’s progress, including statements that the project was "on time and on budget," that the production timeline had accelerated, and in February 2026 that the company was installing the "very last shield," had begun mining premier metallurgical coal, and saw a $2.1 billion NPV for the asset. Plaintiffs allege the mine was facing mechanical, electrical and operational problems that impaired the ramp-up, including later-disclosed equipment failures, roof integrity deterioration from moisture, floor softening beneath misaligned shields, and commissioning challenges. Peabody cut first-quarter 2026 Centurion production guidance on March 30 to about 250,000 tons from about 700,000 tons, then on May 5 lowered full-year Centurion shipments or sales guidance to 2.5 million tons from 3.5 million tons and raised met coal cost guidance to $123-$133 per ton from $113, while reporting first-quarter actual met coal costs of $142 per ton and a met segment adjusted EBITDA loss of $7 million. The notices say BTU shares fell about 9.7% on March 30 and about 5.7%-6% on May 5, and that the stock declined from a class-period high of $39.50 to $25.00, or 36.7%, as the alleged problems became clearer.