LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Turquoise Hill Resources Ltd. (“Turquoise Hill” or “the Company”) (NYSE: TRQ) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Turquoise Hill suffered stability issues at its Oyu Tolgoi copper-gold mine in Mongolia that were far more severe than represented. The Company’s estimates of the cost of completion and production schedule were impossible to achieve. The Company’s purported “challenging ground conditions” made its production estimates beyond its capabilities. In fact, the Company would require additional financing to complete the project. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Turquoise Hill, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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