Did you acquire shares of SouthGobi Resources Ltd. between March 30, 2011 to November 7, 2013 (inclusive)? If so, you may be entitled to compensation or a distribution from this settlement.
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 Ontario Superior Court of Justice (the “Court”) has approved a Settlement Agreement between the Plaintiff and the Defendant. The Settlement Agreement resolves this litigation in its entirety.
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 Agreements are not an admission of liability, wrongdoing or fault by the Defendant.
The Class includes all persons and entities, other than Excluded Persons, wherever they may reside or be domiciled, who acquired SouthGobi’s securities during the Class Period and continued to hold some or all of those securities as of November 8, 2013.
Class Period: March 30, 2011, through November 7, 2013, inclusive.
Excluded Persons: SouthGobi Resources Ltd., its controlling shareholders, past and present subsidiaries, affiliates, officers, directors, senior employees, partners, legal representatives, heirs, predecessors, successors and assigns, and China Investment Corporation.
Securities: 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.
To be eligible to obtain compensation from the settlement, you must complete and submit a claim form (including the necessary supporting documentation) to the Claims Administrator before June 15, 2026, at 11:59PM EST. If you do NOT submit your claim form on time, you will not be eligible for any benefits from the settlement.
Click here for more information on how to submit a Claim.
| Submit a Claim | The only way to receive compensation from the Settlements is to submit a Claim. The deadline to submit a Claim is June 15, 2026, at 11:59PM EST. While online Claims are recommended and preferred, the Administrator will also accept claim forms filed by email, mail or courier. To obtain a copy of the claim form, Class Members may contact the Claims Administrator to have one sent by email or regular mail. Claim form sent by mail or courier should be sent to: SouthGobi Resources Ltd. Settlement Claims Administrator Epiq Class Action Services Canada Inc. Attention: SouthGobi Class Action Settlement Administrator PO Box 507 STN B Ottawa ON K1P 5P6 |
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| Object to the Settlements | The deadline to object to the settlement expired on November 27, 2025. |
| We recommend you review the FAQ Page for further details about this class action. | |
The settlement was approved by the Ontario Superior Court of Justice on December 2, 2025.
The only way to receive compensation from the Settlements is to submit a Claim.
The deadline to submit a Claim is June 15, 2026, at 11:59PM EST.
The deadline to object to the settlement expired on November 27, 2025.