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An announcement from SouthGobi Resources ( (TSE:SGQ) ) is now available.
SouthGobi Resources Ltd. has announced the settlement of a class action lawsuit related to the restatement of its financial statements. The settlement, approved by the Ontario Court, involves a payment of CA$6.8 million covered by the company’s insurers. This resolution is seen as a strategic move to avoid further litigation costs, allowing the company to focus on its core operations without the burden of ongoing legal disputes.
More about SouthGobi Resources
SouthGobi Resources Ltd. is a company based in British Columbia, Canada, and is listed on the Hong Kong Stock Exchange and the TSX Venture Exchange. The company operates in the mining industry, focusing on the extraction and sale of coal resources.
See more insights into SGQ stock on TipRanks’ Stock Analysis page.