Important Information Regarding Section 20(a) Individual Liability Claims: Three Peabody Energy Executives Named Personally in Securities Action Over Alleged Centurion Mine Misrepresentations
BTU INVESTOR ALERT
NEW YORK, July 9, 2026 /PRNewswire/ — SueWallSt alerts investors in Peabody Energy Corporation (NYSE: BTU) of a pending securities class action naming three senior executives as individual defendants. Class Period: October 14, 2024 through May 4, 2026. Check if you might be eligible to recover your investment losses or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com | (888) SueWallSt.
Peabody Energy shares lost approximately $14.50 per share in value during the Class Period, declining from a high of $39.50 to $25.00 following corrective disclosures about the Centurion mine ramp-up failure. To be considered for lead plaintiff, investors must file by August 24, 2026.
The Named Individual Defendants
The securities action names the following executives as individual defendants under both Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934:
- James C. Grech, President, Chief Executive Officer, and Director, who allegedly oversaw and directed public statements assuring investors of Centurion’s on-time ramp-up while the mine faced cascading equipment and geological failures
- Mark A. Spurbeck, Executive Vice President and Chief Financial Officer, who allegedly certified the accuracy of SEC filings containing inflated volume and cost guidance for the metallurgical coal segment
- Marc E. Hathhorn, former President of Global Operations (through October 31, 2024), who allegedly assured investors the Centurion timeline carried minimal risk while the mine relied on 8-year-old repurposed equipment
Section 20(a) Control Person Framework
The complaint contends each individual defendant possessed the power and authority to control the contents of Peabody Energy’s SEC filings, press releases, earnings call scripts, and presentations to analysts and institutional investors. As alleged, each defendant received copies of the Company’s public statements prior to issuance and had both the ability and opportunity to prevent misleading disclosures or cause them to be corrected.
Sarbanes-Oxley Certification Obligations
Under Sections 302 and 906 of the Sarbanes-Oxley Act, Grech and Spurbeck personally certified quarterly and annual SEC filings, attesting that:
- Financial statements fairly presented the Company’s financial condition and results of operations
- Disclosure controls were designed and maintained to ensure material information was made known to certifying officers
- Any significant deficiencies or material weaknesses in internal controls were disclosed
- Any fraud involving management or employees with a significant role in internal controls was reported
The action asserts these certifications were made while defendants knew or recklessly disregarded that Centurion’s ramp-up faced mechanical, electrical, and roof control challenges that rendered the Company’s volume guidance and cost projections materially misleading.
Scienter Allegations
The lawsuit alleges that the individual defendants, because of their positions and access to material non-public information, knew that adverse facts about Centurion had not been disclosed to the investing public. The complaint charges that positive representations about the mine’s timeline and operational readiness were materially false when made.
“Corporate officers have a duty to ensure their companies’ public statements are accurate and complete. When executives personally certify SEC filings containing specific operational projections, they bear responsibility for ensuring those projections reflect known conditions on the ground.” — Joseph E. Levi, Esq.
Learn more about the case or call (888) SueWallSt.
WHY SUEWALLST: SueWallSt is a brand of Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Frequently Asked Questions About the BTU Lawsuit
Q: Who are the defendants named in the BTU lawsuit? A: The complaint names Peabody Energy Corporation and three individual defendants: James C. Grech (CEO), Mark A. Spurbeck (CFO), and Marc E. Hathhorn (former President of Global Operations). Each is alleged to have had the power and authority to control the Company’s public disclosures during the Class Period.
Q: What is the BTU class action lawsuit about? A: A securities class action has been filed against Peabody Energy (NYSE: BTU) alleging materially false and misleading statements between October 14, 2024 and May 4, 2026 regarding the Centurion mine ramp-up timeline and metallurgical coal segment guidance. Shares fell approximately 36.7% from their Class Period high after the truth was revealed.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I already sold my BTU shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the Class Period and sold at a loss may still participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.
Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution.
Q: What do BTU investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Contact SueWallSt, a brand of Levi & Korsinsky LLP, for a no-cost, no-obligation case evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as an absent class member.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171
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SOURCE SueWallSt.com
