NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Turquoise Hill Resources Ltd. ("Turquoise Hill” or "the Company") (NYSE: TRQ) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Turquoise Hill securities between July 17, 2018 and July 31, 2019, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/trq.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and omitted to disclose material facts regarding the Company’s business and operations. Specifically the complaint alleges that Defendants made false and or misleading statements and/or failed to disclose that: (1) the progress of underground development of Oyu Tolgoi was not proceeding as planned; (2) there were significant undisclosed underground stability issues that called into question the design of the mine, the projected cost and timing of production; (3) the Company’s publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; (4) 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 (5) Turquoise Hill would require additional financing and/or equity to complete the project.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/trq or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Turquoise Hill you have until December 14, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.