The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Turquoise Hill Resources Ltd. (NYSE: TRQ) securities between July 17, 2018 and July 31, 2019.
According to the Turquoise Hill lawsuit, throughout the Class Period defendants made 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.
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.
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