New York, New York, Oct 22, 2020 (Newsfile Corp via COMTEX) -- New York, New York--(Newsfile Corp. - October 22, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Turquoise Hill Resources Ltd. /zigman2/quotes/208953645/composite TRQ +7.60% alleging that the Company violated federal securities laws.
Class Period: July 17, 2018 and July 31, 2019
Lead Plaintiff Deadline: December 14, 2020
Learn more about your recoverable losses in TRQ:
The filed complaint alleges that Turquoise Hill Resources Ltd. made materially false and/or misleading statements and/or 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, the projected cost and timing of production; (iii) the company'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 the company had represented; and (v) Turquoise Hill would require additional financing and/or equity to complete the project.
Shareholders have until December 14, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the TRQ lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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