Employees sue coal companies over retirement-plan mismanagement
Two coal companies with operations on Colorado’s Western Slope are being sued over allegations that they caused participants in their retirement plans to lose millions of dollars.
The Grand Junction Sentinel reports that the the losses allegedly were caused by the company offering its “own stock as an investment option even as the companies and industry have been financially reeling.”
Both companies, Arch Coal Inc., and Peabody Energy Corp., are based in St. Louis. Arch owns the West Elk Mine, while Peabody owns the Twentymile Mine in Colorado.
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