Hagens Berman Probes Peabody Energy Over Centurion Mine Disclosures

The legal action follows a class-action complaint asserting that Peabody executives provided false assurances about the site's progress. While the company claimed in February 2026 that the installation of the final shield was complete and metallurgical coal extraction had begun, the lawsuit contends that mechanical and electrical failures were already stalling the ramp-up. These internal issues remained undisclosed until the company filed a report with the SEC on March 30, 2026, which slashed first-quarter production guidance from 700,000 tons to 250,000 tons. The stock price dropped nearly 10% following the announcement.

Further pressure mounted on May 5, 2026, when Peabody reduced its full-year sales outlook for the Centurion project by 28%, citing ongoing operational headwinds. This second disclosure triggered another 6% decline in share value. Reed Kathrein, the partner at Hagens Berman leading the probe, stated that the firm is working to pinpoint exactly when management became aware that the mine’s production trajectory was failing to meet public projections. Investors with losses during this period have until August 24, 2026, to file as lead plaintiffs.