{"id":387865,"date":"2020-11-24T11:03:27","date_gmt":"2020-11-24T16:03:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387865"},"modified":"2020-11-24T11:03:27","modified_gmt":"2020-11-24T16:03:27","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-3","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-3\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. (TRQ)"},"content":{"rendered":"<div class=\"mw_release\">\n<p>LOS ANGELES, Nov.  24, 2020  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wzp6b3AMtaClcPeK_zxQsHoZZ1zdPIsrSvisWRzaZ4gMp7P9_JVxPljroDUYrCA87cVjVX8oRyA9Aul0ZjpsuwemNFO5oLRUdx4hnYtff1w=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming <strong>December 14, 2020<\/strong> to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Turquoise Hill Resources Ltd. (\u201cTurquoise Hill\u201d or the \u201cCompany\u201d) (NYSE: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BcHmvdj-P3dCBquXYWZrD7OBuStooaHGxlPwWhvDDCNW1yHuE2YApwdPBCIN8Moi7V6Kx8uTZOLYuU3v_3Uw0Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">TRQ<\/a>) securities between <strong>July 17, 2018 and July 31, 2019<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<p>If you suffered a loss on your Turquoise Hill investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=59YDn4WSemahouk0I0uZ4HSaxILAYvgq-wMvZO1NgM6GuMsEbdjFBFP0HxetI7bmMLc6R2-EqbxR0_s3VkGZtSrRHrSt2jytxFLB7BVzN1k9ZkvZ3t_04BEDXi1BHrBP_dgnm97MvuSOdF3vuNTBgKGtyUEe56VA6sD_0eGlsHs6WWOX7Ki2CshE-NTlBFnr\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.glancylaw.com\/cases\/turquoise-hill-resources-ltd\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HGXavRgQeDjHAqLuGl6Z_jSpM7fVdrlaXSg_fGh31_ouX9Iw9LlJGuduhxrg2prVFofXkq7-ovgXkWFqTjx3yyTmOQHbU9jEn3OCegPOemdvRdpQQpcYBVtFkb7sal_F\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>On February 26, 2019, the Company announced in a press release that, while \u201cthe [Oyu Tolgoi] project cost was expected to remain within the $5.3 billion budget,\u201d a review had determined that \u201cthere was an increasingly likely risk of a further delay to sustainable first production beyond Q3\u201821.\u201d Turquoise Hill attributed the \u201clikely risk\u201d to productivity setbacks in completing Shaft 2 and \u201cchallenging ground conditions that have had a direct impact on the project\u2019s critical path.\u201d<\/p>\n<p>On this news, the Company\u2019s share price fell $0.27, or approximately 13%, to close at $1.83 per share on February 27, 2019, thereby injuring investors.<\/p>\n<p>Then, on July 15, 2019, Turquoise Hill announced that sustainable first production from the underground development of Oyu Tolgoi would now be delayed by another 9 to 21 months until May 2022 to June 2023. The Company also stated that \u201cthe development capital spend for the project may increase by $1.2 to $1.9 billion over the $5.3 billion previously disclosed.\u201d<\/p>\n<p>On this news, the Company\u2019s share price fell $0.47, or 44%, to close at $0.60 per share on July 16, 2019, thereby injuring investors further.<\/p>\n<p>Then, on July 31, 2019, after the market closed, Turquoise Hill disclosed that it had taken a $600 million impairment charge and a significant \u201cdeferred income tax recognition adjustment\u201d tied to the Oyu Tolgoi project, and that it had suffered a loss in the second quarter.<\/p>\n<p>On this news, the Company\u2019s share price fell $0.05, or over 8%, to close at $0.53 per share on August 1, 2019, thereby injuring investors further.<\/p>\n<p>The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the production of underground development of Oyu Tolgoi was not proceeding as planned; (2) there were substantial undisclosed underground stability problems that called into question the design of the mine and the projected cost and timing of production; (3) Turquoise Hill\u2019s publicly released estimates of the cost, date of completion, and dates for production from the underground mine were not attainable; (4) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what Turquoise Hill had represented; (5) Turquoise Hill would require additional financing and\/or equity to complete the project; and (6) as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\u00a0\u00a0\u00a0<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=VrJarUihI0ekFDLga0TTwaRjg1OGyFOSj9B4AHzp8tn6J_BGmniFPxiKy-r-LXFzIcT_RbP9HqFY8pAxa_JUXhRYN-KmUgjwzkWzyoES10WqoGzLDroQNsRi-A1DPuiE\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=rBq80yHkPcRu9h3wb5jGWQyPz4dEyi45G0l8pTK4vUNYXP2XgMa-B6VAgI0xd7xMR3K-Vpkb9TYJMiuzRhw3eA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=J3U7pCags62yEyee8i3D2TEO1GYED6nLplkf8PF_wNpBn7H29ApAPgvwC7OaV99oVpeSPL8EFt8LPD5xWVF29CMikfLHksW034sixqL3F34=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/p>\n<p>If you purchased or otherwise acquired Turquoise Hill securities during the Class Period, you may move the Court no later than <strong>December 14<\/strong><strong>,<\/strong><strong> 2020 <\/strong>to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to\u00a0learn more\u00a0about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HGXavRgQeDjHAqLuGl6Z_jSpM7fVdrlaXSg_fGh31_pOLnNd4Ce2kJXY5w4IQlWvXly4n-Xg8h8OmR4z73y30MouAhZ9gVd8vZiRkQKxNw5hEeAkl9RsEM5qiwelxJ3-\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1v74ua1X5bnu0wJMB_dtxOkTJzNb4h_NXCqTyFob02wAsvHl9eVlM6CzMbC1BYLOKw54rT1qsM0bYVA4mrmnKw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts<\/strong><br \/>\n        <br \/>Glancy Prongay &amp; Murray LLP, Los Angeles<br \/>Charles H. Linehan, 310-201-9150 or 888-773-9224<br \/>1925 Century Park East, Suite 2100<br \/>Los Angeles, CA 90067 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1v74ua1X5bnu0wJMB_dtxAEM2YFf9VlnBsm5CCqarkIkccRuPd8DWFrRUgh0O7K6TgW_RIv7FBDwxMl10DAQ_Y5bjH962nw8juZzCbtgZVQ=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>\u00a0\u00a0 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HGXavRgQeDjHAqLuGl6Z_jSpM7fVdrlaXSg_fGh31_oEHfsvMujnTkwSjJ6-MTuN904dgfSfzCvBvB98RGyaqCD7qQp1yYB8sGrhxlXMte-DzOEm9y3TTluOIlLoBOFc\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MTE2MCMzODQxMTMxIzIwMTcyOTE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/931d949f-baf6-4f54-85ee-7b65713d8e41\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES, Nov. 24, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming December 14, 2020 to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Turquoise Hill Resources Ltd. (\u201cTurquoise Hill\u201d or the \u201cCompany\u201d) (NYSE: TRQ) securities between July 17, 2018 and July 31, 2019, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Turquoise Hill investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/turquoise-hill-resources-ltd\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-3\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. (TRQ)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-387865","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. (TRQ) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. (TRQ) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LOS ANGELES, Nov. 24, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming December 14, 2020 to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Turquoise Hill Resources Ltd. (\u201cTurquoise Hill\u201d or the \u201cCompany\u201d) (NYSE: TRQ) securities between July 17, 2018 and July 31, 2019, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Turquoise Hill investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/turquoise-hill-resources-ltd\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at &hellip; Continue reading &quot;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. 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(TRQ) - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-3\/","og_locale":"en_US","og_type":"article","og_title":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. (TRQ) - Market Newsdesk","og_description":"LOS ANGELES, Nov. 24, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming December 14, 2020 to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Turquoise Hill Resources Ltd. (\u201cTurquoise Hill\u201d or the \u201cCompany\u201d) (NYSE: TRQ) securities between July 17, 2018 and July 31, 2019, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Turquoise Hill investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/turquoise-hill-resources-ltd\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. (TRQ)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-3\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-24T16:03:27+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MTE2MCMzODQxMTMxIzIwMTcyOTE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-3\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-3\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. 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