TURQUOISE HILL 24 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors with Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against Turquoise Hill Resources Ltd. - TRQ

- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana Charles C. Foti, Jr. remind investors that they have only until December 14, 2020 to file lead plaintiff applications in a securities class action lawsuit against Turquoise Hill Resources Ltd. (NYSE: TRQ), if they purchased the Company's securities between July 17, 2018 and July 31, 2019 inclusive (the "Class Period").  This action is pending in the United States District Court for the Southern District of New York .

Kahn Swick & Foti, LLC ("KSF") - - not all law firms are created equal. Visit www.ksfcounsel.com to learn more about KSF. (PRNewsfoto/Kahn Swick & Foti, LLC)

What You May Do

If you purchased securities of Turquoise Hill and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ( lewis.kahn@ksfcounsel.com ), or visit https://www.ksfcounsel.com/cases/nyse-trq/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by December 14, 2020 .

About the Lawsuit

Turquoise Hill and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) underground development of the Oyu Tolgoi copper-gold mine, which was the Company's principal asset, was not progressing as planned; (ii) significant undisclosed underground stability issues called into question the design of the mine; (iii) publicly disclosed estimates of the cost, completion and production dates from the mine were not achievable; (iv) the capital required for the Oyu Tolgoi development would cost substantially more than a billion dollars over what the Company had represented; and (v) the Company would require additional financing and/or equity to complete the project.

The case is Franchi v. Turquoise Hill Resources Ltd. , No. 20-cv-08585.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr. , is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York , California and Louisiana .

To learn more about KSF, you may visit www.ksfcounsel.com .

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn , Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/turquoise-hill-24-hour-deadline-alert-former-louisiana-attorney-general-and-kahn-swick--foti-llc-remind-investors-with-losses-in-excess-of-100-000-of-deadline-in-class-action-lawsuit-against-turquoise-hill-resources-ltd---trq-301191536.html

SOURCE Kahn Swick & Foti, LLC

News Provided by PR Newswire via QuoteMedia

The Conversation (0)
Lobo Tiggre, copper bars.

Lobo Tiggre: Copper is My Highest-Confidence Trade for 2025 — Here's Why

Lobo Tiggre, CEO of IndependentSpeculator.com, gave the Investing News Network his updated thoughts on the US economy, as well as his outlook for gold, silver and uranium in 2025.

However, he said his highest-confidence trade for next year is copper.

"I think that it's easier to see — and highly likely to see — copper moving higher next year," Tiggre explained.

Keep reading...Show less
Large chunk of copper.

29Metals Shares Feasibility Study and Final Investment Decision for Gossan Valley Project

29Metals (ASX:29M) has announced a feasibility study and final investment decision for the Gossan Valley project at its Golden Grove volcanic-hosted massive sulphide mine in Western Australia.

The feasibility study is an update to the 2022 version of the document. It outlines production of 4,000 tonnes of copper and 20,000 tonnes of zinc annually at Gossan Valley over an initial mine life of seven years.

CEO James Palmer said the development of Gossan Valley is the "next logical development option" when it comes to moving forward at Golden Grove, which was first discovered in 1971.

Keep reading...Show less
Somerset Minerals Logo

Acquisition of High-Grade Copper Project Adjacent to White Cliff Minerals

Somerset Minerals Ltd (“Somerset” or the “Company”) (ASX:SMM) is pleased to advise that it has entered into a conditional agreement to acquire 100% of the issued capital of Sentinel Resources Pty Ltd (“Sentinel”), which, through its local subsidiary, holds the Coppermine Project (the “Project”) in Nunavut, Canada.

Importantly, the Coppermine Project hosts 1,055 km2 of the prospective Copper Creek Formation basalts, and is interpreted to include the strike extensions to White Cliff’s high priory targets of Vision, Stark, Thor and Rocket (Figure 2 & 3), with the prospectivity of the wider project area also supported by extensive surface sampling and historic exploration (Table 1). Importantly, Somerset holds the ground entirely around and along strike from White Cliff’s recently acquired Danvers prospect which contains a non-JORC or NI 43-101 resource of 4.16Mt @ 2.96% Cu.

Keep reading...Show less
US$100 bills.

Lundin Mining to Divest Neves-Corvo and Zinkgruvan Operations for US$1.52 Billion

Lundin Mining (TSX:LUN,OTC Pink:LUNMF) has entered a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden (STO:BOL) for up to US$1.52 billion.

The sale, announced by the company on Monday (December 9), will see Boliden acquire full ownership of Somincor, the company operating Neves-Corvo, as well as Zinkgruvan Mining Aktiebolag and its associated entities.

Lundin expects to receive upfront cash consideration of US$1.37 billion at closing, based on financial conditions as of August 31, 2024. Interest will accrue at 5 percent annually until the closing date.

Keep reading...Show less

Lundin Mining Announces Sale of Neves-Corvo and Zinkgruvan for Total Consideration of up to $1.52 Billion

Lundin Mining logo (CNW Group/Lundin Mining Corporation)

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces today it has signed a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB (OM: BOL) ("Boliden") for up to $1.52 billion in total consideration (the "Transaction"). Unless otherwise stated, all numbers are presented in United States dollars.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Business handshake.

Rio Tinto and Sumitomo Partner to Advance Winu Copper-Gold Project

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has signed a term sheet with Sumitomo Metal Mining (TSE:5713) for a joint venture to advance the Winu copper-gold project in Western Australia.

The partnership, announced on Wednesday (December 4), seeks to develop both companies’ exploration initiatives.

Sumitomo will acquire a 30 percent equity stake in the Winu project for US$399 million, including an initial payment of US$195 million and US$204 million in deferred considerations tied to project milestones and other conditions.

Keep reading...Show less

Latest Press Releases

Related News

×