Turquoise Hill Resources Faces CAD $22.6 Million Class Action Settlement
Investors who acquired Turquoise Hill Resources Ltd. securities between July 31, 2018, and July 31, 2019, are now eligible to participate in a proposed CAD $22.6 million settlement. The agreement addresses claims against the company, Rio Tinto, and several individual respondents, though all parties continue to deny any wrongdoing or liability.
The settlement, authorized by the Superior Court of Québec, provides a path for resolution following litigation regarding non-U.S. securities transactions. While the total settlement amount is CAD $22,663,980, the final distribution to class members depends on court approval of legal fees, administrative costs, and the proposed plan of allocation. Class counsel estimates that net funds available for distribution could range between CAD $13.6 million and CAD $13.8 million, to be divided pro rata based on compensable losses.
Legal rights are impacted regardless of individual action. Those wishing to remain in the class must submit a claim to receive a share of the funds, while those who prefer to pursue independent legal action must formally opt-out by September 1, 2026. Objections to the settlement must be filed by October 2, 2026, ahead of the final approval hearing scheduled for October 20, 2026. Detailed instructions and documentation are available at www.TRQSettlement.com.
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