The class action was commenced following SouthGobi’s November 2013 restatement of its financial statements. The Plaintiff alleges, among other things, that during the Class Period SouthGobi made misrepresentations by materially overstating its revenues through the improper recognition of revenue on coal sales that were not yet complete, in contravention of applicable accounting standards.
The Court approved the Plaintiff’s settlement with SouthGobi. This settlement provides for the payment of C$6,800,000 by SouthGobi’s insurers in consideration of the full and final settlement of the claims of the Class Members.
The Settlement Agreements are not an admission of liability, wrongdoing or fault on the part of the Defendant who continues to deny the allegations against it.
SouthGobi’s insurers have agreed to pay C$6,800,000 to settle the class action. The Settlement Amount includes all legal fees, taxes and administrative expenses. The settlement is a compromise of disputed claims and SouthGobi does not admit any wrongdoing or liability.
For the purposes of the settlement, Class Members are comprised of:
All persons and entities (other than Excluded Persons), wherever they may reside or be domiciled, who acquired securities of SouthGobi (means common shares of SouthGobi Resources Ltd., listed for trading on the Toronto Stock Exchange under the symbol “SGQ”, and on the Stock Exchange of Hong Kong under the trading code “1878”, and which, throughout the Class Period, were also admitted to trading on alternative trading venues in Canada, including Alpha Toronto and Chi-X Toronto) during the period March 30, 2011 through November 7, 2013 (“Class Period”) and continued to hold some or all of those securities on November 8, 2013, other than certain excluded persons.
“Excluded Persons” means SouthGobi Resources Ltd. and any of its controlling shareholders, past and present subsidiaries, affiliates, officers, directors, senior employees, partners, legal representatives, heirs, predecessors, successors and assigns, and China Investment Corporation.
To be eligible for compensation, Class Members had to submit their claim form, including any supporting documentation, to the Claims Administrator.
The deadline to submit a Claim was on September 15, 2026.
The Claims Administrator is currently reviewing all claims received.
The deadline to submit a Claim was on September 15, 2026.
In order to verify claims, the Claims Administrator will require supporting documentation, including brokerage statements or confirmations evidencing the claimed transactions.
The deadline to object to the settlement expired on November 27, 2025.
If you do nothing at all, you will not receive any benefits from the settlement.
As a third-party administrator, we are unable to offer guidance on whether you should obtain legal advice, nor can we provide any legal advice.
Class Members are automatically included and represented by Class Counsel. Each Class Member will be bound by the terms of the court approved settlement and will not be allowed to pursue an independent action against the Defendants related to the subject matter of the Class Action.
The law firm of Siskinds LLP represents the plaintiff and the Class.
SISKINDS LLP
Barristers and Solicitors
275 Dundas Street, Unit 1
London, Ontario N6B 3L1
donna.mcevoy@siskinds.com
The deadline to object to the settlement expired on November 27, 2025.
The deadline to submit a Claim is September 15, 2026, at 11:59PM EST.
Questions for Class Counsel should be directed to:
SISKINDS LLP
Barristers and Solicitors
275 Dundas Street, Unit 1
London, Ontario N6B 3L1
donna.mcevoy@siskinds.com
Questions for the Claims Administrator should be directed to:
Epiq Class Action Services Canada Inc.
Attention: SouthGobi Class Action Settlement Administrator
PO Box 507 STN B
Ottawa ON K1P 5P6
Email: Info@SouthGobiClassActionSettlement.ca
Telephone: 1-877-781-1550
Fax: 1-866-262-0816
If you are experiencing any difficulties in obtaining your transaction history for SouthGobi, you can request this information directly from the transfer agent, TSX Trust Company. To submit your request, please email a signed letter of instructions that includes your account details to shareholderinquiries@tmx.com. Your request should include at least three (3) of the following pieces of identifying information so their team can review their records and provide you with the appropriate guidance.
You can also reach out to TSX Trust Company by phone at their toll-free number: 1-(800) 387-0825.
Update as of September 30, 2026
Deadline to Submit a Claim
The deadline to submit a Claim was on September 15, 2026.
The Claims Administrator is currently reviewing all claims. We thank you for your patience as we process all claims received.
For updates regarding timing of payments, we recommend that you visit this website periodically.