LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of Turquoise Hill Resources Ltd. (“Turquoise Hill” or the “Company”) (NYSE:TRQ) concerning possible violations of federal securities laws. The investigation is focused on certain statements issued by Turquoise Hill concerning the Company’s financial performance.
Please contact us at (212) 682-5340, Toll-Free at (888) 773-9224, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
Turquoise Hill is a mineral exploration, development and mining company, with mineral resource properties in Australia and the South Gobi region of Mongolia. The investigation is related to the Company’s November 8, 2013, announcement that it will restate its consolidated financial results for 2010, 2011, 2012 and the affected quarters, including 2013.
According to a Company-issued press release, the planned restatement is “due to a change in SouthGobi's determination of when revenue should be recognized in accordance with International Financial Reporting Standards from its sales of coal previously recognized in fourth quarter of 2010, the full year 2011 and the first half of 2012.” The Company plans to effect this restatement by filing restated annual consolidated financial statements and management's discussion and analysis for the year ended December 31, 2012, including the comparative periods presented therein. The investigation is focused on whether the Company’s public statements concerning its financial performance were materially misleading.
If you purchased Turquoise Hill securities, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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