NEW YORK, Feb. 5, 2014 /PRNewswire/ -- Levi &
Korsinsky 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 investors
who purchased Turquoise Hill Resources, Ltd. ("Turquoise Hill" or
the "Company") (NYSE: TRQ) common stock between May 14, 2010 and November
8, 2013.
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For more information, click here:
http://zlk.9nl.com/turquoise-hill-resources-trq/.
The complaint alleges that the Company made false and/or
misleading statements regarding Turquoise Hill's financial
performance and business prospects, and that the Company had
overstated its reported revenue, specifically for its subsidiary
SouthGobi Resources Ltd. ("SouthGobi").
On November 8, 2013, Turquoise
Hill announced it would restate its consolidated financial results
for the years ended December 31,
2010, 2011, and 2012, as well as the affected quarterly
financial results. According to the Company, these statements could
no longer be relied upon due to errors related to the timing of
revenue recognition from sales to certain distributors as a result
of SouthGobi's decision to alter its methods of recognizing
revenue.
If you suffered a loss in Turquoise Hill you have until
February 11, 2014 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. To
obtain additional information, contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or visit
http://zlk.9nl.com/turquoise-hill-resources-trq/.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut, and Washington D.C. The
firm has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP