TURQUOISE HILL RESOURCES, LTD. SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of Class Action Against Turquoise H...
January 29 2014 - 1:55PM
Business Wire
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.
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.
Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky,
Esq.Tel: 212-363-7500Toll Free: 877-363-5972Fax:
212-363-7171www.zlk.com
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