The longer this drags out, the worse it will be for Peabody. They are trying to save "face" by fighting it. Eventually, they will get smart and "settle" this out of court and won't disclose the settlement. Or hell, they could disclose it.
If the Judge rules that Peabody can be looked into further due to this possible deceit, then that's when I think Peabody will look for that out of court settlement. Either way, we all know what Peabody did, especially the retirees. They are probably wanting 600+ million for all of this, but may settle it for 500 to 400 million. Which I'm sure will be fine by PCX. It may go as long as 300 million, but don't think PCX will accept it. Will be the typical low ball settlement with back and forth.
Even if the Judge doesn't rule in PCX favor against Peabody, this still won't stop the suit PCX has against them. The ruling by Judge to look into it further will just speed it up faster. Otherwise it can be another 6 months to a year before that finally settles.
Sam, have you asked your lawyer what happens if the company gets rid of all the stock? Are they able to proceed with the lawsuit to get money back for you and other pre-BK holders? I wasn't sure if you knew that or not. I know they are going forward with it no matter what, just wasn't sure their course of action IF they get rid of it completely and you have nothing.
AI
