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SouthGobi Resources ( (TSE:SGQ) ) just unveiled an update.
SouthGobi Resources Ltd. has announced a proposed settlement of a class action lawsuit filed against it in the Superior Court of Ontario. The lawsuit relates to the company’s restatement of certain financial statements. The settlement, which is subject to court approval and other conditions, involves a payment of Cdn$6.8 million, covered by the company’s insurers. If approved, the settlement will not require a financial provision in the company’s statements, indicating a minimal immediate impact on its financial health.
More about SouthGobi Resources
SouthGobi Resources Ltd. is a company based in British Columbia, Canada, operating with limited liability. It is listed on the Hong Kong Stock Exchange under the code 1878 and on the TSX Venture Exchange with the symbol SGQ.
See more data about SGQ stock on TipRanks’ Stock Analysis page.