|Company Name||Turquoise Hill Resources Ltd.|
|Class Period||July 17, 2018 to July 31, 2019|
|Motion Deadline||December 14, 2020|
The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of Turquoise Hill Resources Ltd. (NYSE: TRQ). Investors who purchased TRQ stock or other securities between July 17, 2018 and July 31, 2019 may contact the Thornton Law Firm to obtain a copy of the complaint or to discuss the lead plaintiff process. Interested investors are encouraged to submit their information above. Investors may email email@example.com or call 617-531-3917. Interested Turquoise Hill investors have until December 14, 2020 to apply to be a lead plaintiff.
According to the Complaint, Turquoise Hill is an international mining company focused on the operation and development of the Oyu Tolgoi copper-gold mine in Southern Mongolia. The case alleges that Turquoise Hill and its senior executives made misleading statements to investors and failed to disclose that: (i) the progress of underground development of Oyu Tolgoi was not proceeding as planned; (ii) there were significant undisclosed underground stability issues that called into question the design of the mine and the projected cost and timing of production; (iii) Turquoise Hill’s publicly disclosed estimates of the cost, date of completion, and dates for production from the underground mine were not achievable; (iv) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what Turquoise Hill had represented; and (v) Turquoise Hill would require additional financing and/or equity to complete the project. It is alleged that after a series of disclosures about the status of the project, Turquoise Hill’s common share price fell, thereby damaging investors.
The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing the class action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested Turquoise Hill investors have until December 14, 2020 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.