Rio Tinto's former unit Turquoise Hill Resources settles a Canadian securities class action for C$22.7M. Investors have until October 20 to opt out or participate.
Alpha Score of 62 reflects moderate overall profile with strong momentum, weak value, moderate quality, moderate sentiment.
Rio Tinto's former subsidiary Turquoise Hill Resources has reached a proposed settlement of a securities class action in Canada. The deal, worth C$22.7 million, covers investors who bought TRQ shares between July 31, 2018 and July 31, 2019 and held them past mid-July 2019.
The settlement is subject to approval by the Superior Court of Québec. Rio Tinto, along with several former TRQ executives, denies any wrongdoing. The proposed settlement amount includes legal fees, expenses, and administration costs. Class counsel is seeking 33% of the settlement plus C$917,792 in disbursements. After those deductions, the net fund available to class members is estimated at roughly C$13.7 million to C$13.8 million.
Investors who bought TRQ securities outside the United States during the class period are eligible to participate. Those who filed claims in the parallel U.S. class action – In re Turquoise Hill Resources Ltd. Securities Litigation – are excluded from this Canadian recovery. The opt-out deadline and details are available at www.TRQSettlement.com. The court will hear the approval motion on October 20, 2026.
The class action was authorized for settlement purposes only. No admissions of liability have been made. The settlement avoids the cost and uncertainty of a trial.
Rio Tinto, the global mining giant, holds a 50.8% stake in Turquoise Hill, which operates the Oyu Tolgoi copper-gold mine in Mongolia. The company's stock currently carries an Alpha Score of 62 out of 100, a Moderate label, reflecting steady operational performance against sector headwinds. Investors tracking the mining sector can find more on the RTNTF stock page and broader commodities analysis.
The court hearing on October 20 will determine whether the settlement proceeds.
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