{"id":396646,"date":"2020-12-09T12:03:22","date_gmt":"2020-12-09T17:03:22","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=396646"},"modified":"2020-12-09T12:03:22","modified_gmt":"2020-12-09T17:03:22","slug":"deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-4","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-4\/","title":{"rendered":"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. (TRQ)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">BENSALEM, Pa., Dec.  09, 2020  (GLOBE NEWSWIRE) &#8212; Law Offices of Howard G. Smith 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 Turquoise Hill Resources Ltd. (\u201cTurquoise Hill\u201d or the \u201cCompany\u201d) (NYSE: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qhPxqasWz70d0vhxRUJm4t8reFTecDglxG6c7v883rr9-rxFyyxGFX0dUNtcHXTChe11JEmhMfCCACVOnkmUng==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>TRQ<\/u><\/a>) securities between <strong>July 17, 2018 and July 31, 2019<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<p>Investors suffering losses on their Turquoise Hill investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=JlhJmD9D8IZfCCmi-XmVgCcl42lxIZB4BAq3I7Xz9DuCQkK9OSz5eDL8BQmGxcvKP8BqLZhtehaERteklBt6wNAGu4IrJTYp15l6AgJOCGC9VzmvCnHgqtY2rUIyahrS\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">howardsmith@howardsmithlaw.com<\/a>.<\/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 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 progress of underground development of Oyu Tolgoi was not proceeding as planned; (2) there were significant undisclosed underground stability problems that called into question the design of the mine and the projected cost and timing of production; (3) the Company\u2019s publicly released estimates of the cost, date of completion, and dates for production from the underground mine were not realizable; (4) the development capital required for the underground development of Oyu Tolgoi would cost significantly more than a billion dollars over what Turquoise Hill had represented; (5) the Company would require further 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>If you purchased Turquoise Hill securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania, 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=JlhJmD9D8IZfCCmi-XmVgCcl42lxIZB4BAq3I7Xz9DuStc_jwwZYdencqkki1zpDjYHr1HMmNWgkxbGps3CNg7-hHgCGiYOTyTtQnJpa4QtitDivGlquIjB2i5Z6CUSA\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">howardsmith@howardsmithlaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=k0Aab2pDKOq6nZqmqOocKQm1EhpvtaEdCzOSXAkkdCC56-xO7OW7QWNYPoftT1CmpdIhLdCVIyVE8l1Wr-un-KWA20BExPd_ss7_mKTzUV8=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.howardsmithlaw.com<\/a>.<\/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 \/>Law Offices of Howard G. Smith<br \/>Howard G. Smith, Esquire<br \/>215-638-4847<br \/>888-638-4847<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=JlhJmD9D8IZfCCmi-XmVgCcl42lxIZB4BAq3I7Xz9DtCV5y96VS3TlIbKdm6Qm0vnFq2wPU1_hI6N7YXxIVDlyp8GITB5EgUlVR4Yh-LUhhl9vprs9zdbDBb9DXeQdAA\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">howardsmith@howardsmithlaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=k0Aab2pDKOq6nZqmqOocKQm1EhpvtaEdCzOSXAkkdCC0CpRUvzEQTgLNXw0nKJm-1aMWZ8sDUVWuPaxjqhiYt7nn9amwE82-KjVYkZicAJ8=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.howardsmithlaw.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5OTA0MCMzODYyNjU5IzIwMjA0MzI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/852a61d9-c682-4932-9844-79bdda65064c\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BENSALEM, Pa., Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; Law Offices of Howard G. Smith 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 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). Investors suffering losses on their Turquoise Hill investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On February 26, 2019, the Company announced in a press release that, while \u201cthe [Oyu Tolgoi] project cost was expected to remain &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-4\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Deadline Reminder: Law Offices of Howard G. Smith 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-396646","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>Deadline Reminder: Law Offices of Howard G. Smith 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\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-turquoise-hill-resources-ltd-trq-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. (TRQ) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BENSALEM, Pa., Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; Law Offices of Howard G. Smith 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 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). Investors suffering losses on their Turquoise Hill investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On February 26, 2019, the Company announced in a press release that, while \u201cthe [Oyu Tolgoi] project cost was expected to remain &hellip; Continue reading &quot;Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. 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Smith 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 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). Investors suffering losses on their Turquoise Hill investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On February 26, 2019, the Company announced in a press release that, while \u201cthe [Oyu Tolgoi] project cost was expected to remain &hellip; Continue reading \"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Turquoise Hill Resources Ltd. 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