Turquoise Hill Resources Ltd.
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Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Turquoise Hill Resources Ltd. (NYSE: TRQ) from July 17, 2018 through July 31, 2019 (the “Class Period”). The lawsuit seeks to recover damages for Turquoise Hill Resources Ltd. investors under the federal securities laws.
If you bought Turquoise Hill Resources Ltd. securities between July 17, 2018 through July 31, 2019, and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against Turquoise Hill Resources Ltd. – TRQ
New York, N.Y., November 12, 2020. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Turquoise Hill Resources Ltd. (NYSE: TRQ) between July 17, 2018 and July 31, 2019, inclusive (the “Class Period”).
To join the TRQ class action, go to http://zhanginvestorlaw.com/cases/turquoise-hill-resources-ltd/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
According to the lawsuit, throughout the Class Period regarding the development of the Oyu Tolgoi copper-gold mine in Mongolia, defendants made false and/or misleading statements and/or failed to disclose that: (1) the stability issues were much more severe than represented and called into question the design of the mine, the projected cost and timing of production; (2) the publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; (3) the “challenging ground conditions” were much more severe than defendants represented, and in fact made it impossible for Turquoise Hill and Rio Tinto to achieve those estimates; (4) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what Turquoise Hill and Rio Tinto had represented; (5) Turquoise Hill would require additional financing and/or equity to complete the project; (6) the progress of underground development and of Oyu Tolgoi was not proceeding as planned; and (7) the “key risks” had not been “well understood and managed” but had placed the project schedule and cost into severe jeopardy. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 14, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/turquoise-hill-resources-ltd/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at email@example.com.
Zhang Investor Law represents investors worldwide.