Turquoise Hill (TRQ) $138.75M Investor Settlement
Turquoise Hill ($TRQ) has agreed to a $138.75 million settlement to resolve claims that it misled investors about the cost and timeline of the Oyu Tolgoi underground mine expansion in Mongolia.
Outline:
Turquoise Hill reported progress on the Oyu Tolgoi underground mine expansion in Mongolia. Investors later alleged the company failed to disclose significant delays and cost increases affecting the project. In July 2019, Turquoise Hill revealed the expansion would face major delays and higher costs, and the stock declined sharply. Investors filed suit and Turquoise Hill later agreed to a $138.75 million settlement.
Timeline:
July 15, 2019: Turquoise Hill disclosed delays and increased costs for the Oyu Tolgoi underground expansion.
July 16, 2019: $TRQ declined about 44% following the disclosure.
October 14, 2020: Investors filed a securities class action lawsuit against Turquoise Hill, Rio Tinto, and former executives.
May 14, 2025: The parties executed a term sheet for a $138.75 million settlement.
June 17, 2025: Turquoise Hill agreed to the settlement to resolve the claims.
Background:
Turquoise Hill Resources is a mining company with a major interest in the Oyu Tolgoi copper and gold mine in Mongolia. The project, developed in partnership with Rio Tinto, included a large underground expansion intended to significantly increase production.
Before 2019, the company provided updates indicating the project was progressing according to plan. Investors later alleged the company did not fully disclose internal concerns about the project’s schedule and potential cost overruns.
In July 2019, Turquoise Hill announced that the underground expansion would be delayed by up to 30 months and that costs could increase by $1.2 to $1.9 billion above earlier estimates. The announcement raised concerns about the project’s management and financial outlook.
Following the disclosure and the decline in the company’s share price, investors filed a securities class action alleging that earlier statements about the project’s timeline and costs were misleading.
What Can Investors Expect Now?
Turquoise Hill agreed to a $138.75 million settlement with $TRQ investors to resolve claims that it misled them about the cost and timeline of the Oyu Tolgoi underground mine expansion.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section.
Frequently Asked Questions
All persons and entities who purchased or otherwise acquired the publicly traded common stock of Turquoise Hill Resources Ltd. between July 17, 2018 and July 31, 2019, inclusive, and were damaged thereby.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
The final payout amount depends on your specific trades and the number of investors participating in the settlement.
If 100% of investors file their claims - the average payout will be $0.21 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.84 per share.
If you're eligible, you can file your claim directly from this case page by clicking the "Collect Payout" button.
More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed — or file manually for this case.
11th.com is an investor recovery company that helps investors track and collect securities class action settlements. We will:
1. Prepare documents for your payout.
2. Audit the claim and make sure you get the maximum possible payout.
3. File a claim with the settlement administration.
4. Correspond with the settlement administration to resolve emerging issues.
5. Deliver payout directly to your brokerage account.
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.