SHAREHOLDER ALERT: Brower Piven Encourages Investors with More Than $100,000 in Losses from Investment in Turquoise Hill Reso...
January 31 2014 - 9:05PM
Business Wire
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Southern District of New York on behalf of purchasers
of Turquoise Hill Resources Ltd. (“Turquoise Hill” or the
“Company”) (NYSE:TRQ) common stock during the period between May
14, 2010 and November 8, 2013, inclusive (the “Class Period”).
If you have suffered a net loss from investment in Turquoise
Hill Resources Ltd. common stock purchased on or after May 14,
2010, and held through the revelation of negative information on
November 8, 2013, as described below, at no cost to you, you may
obtain additional information about this lawsuit and your ability
to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than February 11, 2014 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants issuing
materially false and misleading statements during the Class Period
concerning the reported revenue for the Company’s subsidiary,
SouthGobi Resources Ltd. (“SouthGobi”), which produces coal at the
Ovoot Tolgoi mine in Mongolia. According to the complaint,
following the Company’s November 8, 2013 disclosure that it would
be restating its consolidated financial results for the years ended
December 31, 2010, 2011, 2012 and the affected quarters, including
2013, due to SouthGobi’s decision to change the manner in which it
recognizes certain revenue, the value of Turquoise Hill shares
declined significantly.
If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain
other counsel of your choice. You need take no action at this time
to be a member of the class.
Brower Piven, A Professional CorporationStevenson,
MarylandCharles J. Piven, 410-415-6616hoffman@browerpiven.com
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