TRQ INVESTOR DEADLINE: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Turquoise Hill Resources Ltd

- Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action that has been filed on behalf of investors that purchased or acquired the securities of Turquoise Hill Resources Limited ("Turquoise Hill" or the "Company") (NYSE: TRQ) between July 17, 2018 and July 31, 2019 inclusive (the "Class Period"). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.

If you purchased Turquoise Hill securities, and/or would like to discuss your legal rights and options please visit Turquoise Hill Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com .

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (i) the progress of underground development and 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 publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; (iv) 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; (v) 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; and (v) Turquoise Hill would require additional financing and/or equity to complete the project.

On July 31, 2019 , Turquoise Hill issued a press release and MD&A which it filed as exhibits on Forms 6-K announcing the Company's financial and operating results for the second quarter of fiscal year 2019. The press release, among other things, stated that the Company's "preliminary estimates indicated that sustainable first production could be delayed by 16 to 30 months compared with Q1'21 estimate in the original feasibility study guidance in 2016, and the development capital project may increase by $1.2 billion to $1.90 billion over the $5.3 billion previously disclosed."

Following this news, on August 1, 2019 , Turquoise Hill's common stock price closed at $0.53 per share, down 8.62% from the day's closing price of $0.58 per share, with over 16.6 million shares traded.

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. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased Turquoise Hill securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/turquoisehillresources-trq-shareholder-class-action-lawsuit-stock-fraud-325/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com .

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/trq-investor-deadline-bernstein-liebhard-llp-reminds-investors-of-the-deadline-to-file-a-lead-plaintiff-motion-in-a-securities-class-action-lawsuit-against-turquoise-hill-resources-ltd-301166659.html

SOURCE Bernstein Liebhard LLP

News Provided by PR Newswire via QuoteMedia

The Conversation (0)
Corazon Mining

Corazon Mining


Keep reading...Show less
Billboard with the word "tariffs" and stars against a cloudy sky.

Trump's Copper Tariffs: Market Impact and How to Invest

Tariffs have been central to Donald Trump’s presidency even before he assumed office at the start of 2025.

From his perspective, levies on nearly all US imports are meant to balance a trade deficit with major partners, including Canada, Mexico, the EU and the UK, while stimulating domestic production in key sectors.

Trump has put forward other reasons for tariffs as well, saying he wants to stem the flow of illegal drugs and immigration, and mentioning broader national security concerns. How effective tariffs would be at controlling these issues is unclear, but they have sown uncertainty and chaos through global financial markets.

Keep reading...Show less
Copper ore in foreground, with world map showing countries in copper on black background.

Top 5 Copper Reserves by Country

Copper has become a hot topic due to its role in the green energy transition and its necessity for urbanization. However, the lack of incoming supply in the long term has experts concerned.

Due to its importance in construction, energy transmission and new technologies, copper is a critical metal needed to power the future of our society. However, mined supply has not kept pace with demand, with few new operations coming online, and older mines facing decreasing grades and lower outputs.

The term “peak copper” was coined because some experts believe that copper reserves may be diminishing. According to the US Geological Survey (USGS), more than 700 million metric tons of copper have been mined throughout history, and current economic global copper reserves stand at 980 million metric tons.

Keep reading...Show less

Latest Press Releases

Related News

×