New Orleans, Louisiana--(Newsfile Corp. - October 22, 2020) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilDecember 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.
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, you must petition 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66721
