Proposed Settlement for Investors in Turquoise Hill Resources Class Action Announced
On July 23, 2025, the Bernstein Litowitz Berger & Grossmann LLP law firm announced the proposed settlement amounting to $138.75 million in a class action lawsuit involving Turquoise Hill Resources Ltd. The case is currently under the purview of the United States District Court for the Southern District of New York. This settlement aims to address the claims of investors who purchased Turquoise Hill common stock, call options, or sold put options during the class period extending from July 17, 2018, to July 31, 2019.
The allegations in the case highlight that certain defendants, including Rio Tinto plc and Rio Tinto Limited, made significant misrepresentations regarding the company's financial status and operations, specifically related to the Oyu Tolgoi mine in Mongolia. According to the lead plaintiff PWCM Master Fund Ltd. and several associated funds, these misrepresentations caused financial harm to the class of investors.
The lead plaintiff has claimed that these defendants violated the Securities Exchange Act of 1934, specifically Sections 10(b) and 20(a), by providing false and misleading statements during the class period. Despite these serious allegations, the defendants deny any wrongdoing, asserting that they did not violate federal security laws and that the claims are without merit.
A hearing is scheduled for October 15, 2025, where the court will decide on the fairness and reasonableness of the proposed settlement. Investors and members of the settlement class are encouraged to remain informed, as the outcome will directly affect their financial interests in the settlement.
To participate in this settlement, eligible class members must submit a Claim Form by September 24, 2025. Those who wish to opt-out from the class action need to send a request by the same date. Failure to submit a form could result in individuals missing out on the settlement compensations that are due to be allocated for those impacted.
This class action serves as a critical reminder of the importance of transparency and accurate communication in corporate disclosures. With ongoing developments in financial litigation, investors are advised to keep abreast of similar cases that could impact their portfolios, as the landscape of securities litigation remains complex and evolving. Both compliance with legal requirements and the protection of investor rights are paramount in restoring trust and integrity in the financial markets.
For more details, investors should refer to the settlement website or contact the claims administrator for the Turquoise Hill Securities Litigation. Furthermore, legal counsel can guide parties interested in filing objections in accordance with court prescribed guidelines.
The allegations in the case highlight that certain defendants, including Rio Tinto plc and Rio Tinto Limited, made significant misrepresentations regarding the company's financial status and operations, specifically related to the Oyu Tolgoi mine in Mongolia. According to the lead plaintiff PWCM Master Fund Ltd. and several associated funds, these misrepresentations caused financial harm to the class of investors.
The lead plaintiff has claimed that these defendants violated the Securities Exchange Act of 1934, specifically Sections 10(b) and 20(a), by providing false and misleading statements during the class period. Despite these serious allegations, the defendants deny any wrongdoing, asserting that they did not violate federal security laws and that the claims are without merit.
A hearing is scheduled for October 15, 2025, where the court will decide on the fairness and reasonableness of the proposed settlement. Investors and members of the settlement class are encouraged to remain informed, as the outcome will directly affect their financial interests in the settlement.
To participate in this settlement, eligible class members must submit a Claim Form by September 24, 2025. Those who wish to opt-out from the class action need to send a request by the same date. Failure to submit a form could result in individuals missing out on the settlement compensations that are due to be allocated for those impacted.
This class action serves as a critical reminder of the importance of transparency and accurate communication in corporate disclosures. With ongoing developments in financial litigation, investors are advised to keep abreast of similar cases that could impact their portfolios, as the landscape of securities litigation remains complex and evolving. Both compliance with legal requirements and the protection of investor rights are paramount in restoring trust and integrity in the financial markets.
For more details, investors should refer to the settlement website or contact the claims administrator for the Turquoise Hill Securities Litigation. Furthermore, legal counsel can guide parties interested in filing objections in accordance with court prescribed guidelines.
Topics Financial Services & Investing）
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