Patriot Coal (PCXCQ) Retirees May Seek Claims Against Arch (ACI) & Peabody (BTU)
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A Patriot Coal Corporation (OTCBB: PCXCQ) retiree group is said to have met on Thursday with the company and creditors, according to Bloomberg.
The coal retirees said Peabody (NYSE: BTU) and Arch Coal (NYSE: ACI) are responsible for health cots and may seek claims against the two. The group called the $1.3 billion liability "unusustainable."
Shares of Patriot are down 10.8 percent, while Arch and Peabody are largely unchanged Friday afternoon.
The coal retirees said Peabody (NYSE: BTU) and Arch Coal (NYSE: ACI) are responsible for health cots and may seek claims against the two. The group called the $1.3 billion liability "unusustainable."
Shares of Patriot are down 10.8 percent, while Arch and Peabody are largely unchanged Friday afternoon.
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