Provided by Business Wire
Jan 29, 2021 1:30 PM UTC
Pentwater Urges a Halt to Rio Tintoâs Attempt to Obstruct Turquoise Hillâs Financing and Governmental Discussions
Pentwater Capital Management LP ( Pentwater ), the largest minority shareholder of Turquoise Hill Resources Ltd. ( Turquoise Hill or the Company ) (TSX:TRQ) (NYSE:TRQ), urges regulators, including the U.S. Securities Exchange Commission (âSECâ), to carefully consider Rio Tintoâs alleged breach of securities laws and continued improper actions involving Turquoise Hill.
Just over a week ago, a Federal District Court in the Southern District of New York appointed Pentwater as lead Plaintiff in a class action lawsuit against Rio Tinto. That lawsuit outlines how Rio Tinto violated federal securities laws by failing to timely disclose its knowledge of the massive cost overrun and schedule delay at the Oyu Tolgoi mine which is 66% owned by Turquoise Hill.
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How the west sold out to the oligarchs
A captivating account of financial skulduggery in London reveals how far the City has fallen
Financial Times journalist Tom Burgis’s first book,
The Looting Machine, was about the worldwide networks that enable the plunder of African natural resources.
Kleptopia, his follow-up, is an even more ambitious endeavour tackling the post-Cold War birth of global kleptocracy and the subterranean links it establishes between authoritarian states and the west. The story centres on ENRC, a London-listed mining company owned by three Central Asian billionaires whose wafer-thin respectability hid, corruption investigators at the UK Serious Fraud Office came to suspect, vast skulduggery. It includes enough thrills murders, kidnappings, marriages, betrayals to make it a captivating read. Yet
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