According to Probes Reporter, an independent investment research firm that focuses on public companies' interactions with the Securities and Exchange Commission, Peabody Energy Corporation (NYSE: BTU) is "playing Disclosure Games" with investors regarding ongoing SEC investigative activity.
Probes Reporter noted in a research report on Monday that Peabody announced the sale of its stake in Prairie State Energy, an entity which is related to an SEC probe dating back to 2013.
"Data recently received from the SEC has two disturbing reveals," the Probes Reporter research document stated. "First, the SEC confirmed enforcement proceedings were on-going as of 30-Nov-2015. We were also told there is/were multiple SEC probes."
The report added Peabody's disclosures, namely an 8-K document filed in December 2015, gives ...
