It says 90 percent of the retirees that Patriot is responsible for never worked for Patriot; they worked for Peabody and Arch.
All three coal companies are based in St. Louis.
They "may be proud of the financial con-game they're playing on these retirees to get out of decades of promises and obligations," Roberts said in a statement after the protest. "But the truth is that this is a sickening display of corporate greed that has overstepped the boundaries of decency. In an America where there are few boundaries for corporations, that's saying something."
As he led the massive crowd through the streets, they chanted, "Peabody promised! Peabody lied!"
Peabody said Patriot was highly successful when it launched, "with significant assets, low debt levels and a market value that more than quadrupled in less than a year. Svec said it also had what trade publications called "the dream team of top management" and a positive assessment by analysts.
Patriot's solvency was affected by other factors, Svec said, including a global financial crisis, drops in the prices for metallurgical coal, competition from cheap natural gas and federal environmental regulations that raised costs.
"The UMWA retirees in question all worked for companies that are part of Patriot Coal," he said, "and Patriot's launch only occurred after the UMWA and its leadership specifically signed off on the retiree benefit payment structure with which Patriot started as an independent company."
A federal judge moved Patriot's case from New York City to St. Louis in November. An $802 million financing package is allowing Patriot to continue operating while it restructures.
Roberts and the others sat down in the street in front of Peabody's headquarters. Police allowed them to hold hands and listen to both a prayer and a recording of "Amazing Grace" before ordering them to move or face arrest. Union spokesman Phil Smith said that the 10 were charged with obstructing traffic.
It was a planned act of civil disobedience that Roberts had joked about moments earlier.
"If you have not been told to go to jail, do not go to jail," he told the crowd. "We got enough money to get me out. ... Well, we got enough money to get you all out, to tell the truth."
But the fight to preserve benefits is no laughing matter, and the union vowed to continue."There's gonna be 10 of us go to jail," Roberts said before the arrests. "That is the first 10, but it ain't the last 10."