{"settlement":{"id":"southgobi-resources-securities-2025","slug":"southgobi-resources-securities-2025","title":"SouthGobi Resources Securities Class Action","category":"Investment and Securities","status":"Claims closed","tags":{"industry":["Energy and utilities","Securities and investments"],"geographic":["Canada-wide"],"recoveryType":["Cash payment","Investment recovery"],"documentation":["Account records required"],"eligibilityTrigger":["Owned a security or investment"]},"classDefinition":"All persons and entities, wherever they may reside or be domiciled, who acquired SouthGobi Resources Ltd. securities between March 30, 2011 and November 7, 2013 inclusive, and retained some or all of them at the close of trading on November 8, 2013. Excluded are the Defendant and its controlling shareholders, subsidiaries, affiliates, officers, directors, senior employees, partners, legal representatives, heirs, predecessors, successors and assigns, and China Investment Corporation.","plainLanguageSummary":"If you bought SouthGobi Resources shares between March 30, 2011 and November 7, 2013 and still held some of them on November 8, 2013, you may be eligible for a cash payment from a C$7,000,000 settlement fund. There is no residency requirement. You may be eligible whether you live in Canada, Hong Kong, or anywhere else, as long as you acquired SouthGobi common shares between March 30, 2011 and November 7, 2013 and still held some or all of them at the close of trading on November 8, 2013.","eligibilityCriteria":[],"recoveryRange":"Share of a C$7,000,000 settlement fund based on your recognized loss","filingInstructions":"Visit the Claims Administrator's website at https://www.southgobiclassactionsettlement.ca and follow the step by step instructions to file an online claim.\nGather your supporting documentation, including brokerage statements or trade confirmations showing your SouthGobi share transactions.\nComplete the claim form online, or contact the Claims Administrator to have a claim form sent to you by email or regular mail.\nSubmit your completed claim form and supporting documents online, by email to Application@SouthGobiClassActionSettlement.ca, or by mail or courier to Epiq Class Action Services Canada Inc., Attention: SouthGobi Class Action Settlement Administrator, PO Box 507 STN B, Ottawa ON K1P 5P6.\nMake sure your claim is received no later than June 15, 2026 at 11:59 PM Eastern time.","caseBackground":"SouthGobi Resources Ltd. is a coal mining company whose shares traded on the Toronto Stock Exchange and the Stock Exchange of Hong Kong. In November 2013, SouthGobi restated its financial statements. A class action followed, alleging that between March 30, 2011 and November 7, 2013 the company overstated its revenues by improperly recording revenue on coal sales that were not yet complete, contrary to accounting standards.\n\nThe Ontario Superior Court of Justice approved a settlement on December 2, 2025 under which SouthGobi's insurers will pay C$6,800,000, and had earlier approved a C$200,000 settlement with SouthGobi's auditor, Deloitte LLP, for a combined C$7,000,000. The settlements are not an admission of wrongdoing. Legal fees and administration expenses are deducted from the fund before it is shared among eligible investors based on their recognized losses.","administratorName":"Epiq Class Action Services Canada Inc.","administratorContacts":[{"type":"phone","label":"Toll-free","value":"1-877-781-1550"},{"type":"email","label":"","value":"Info@SouthGobiClassActionSettlement.ca"},{"type":"fax","label":"","value":"1-866-262-0816"},{"type":"mail","label":"","value":"Epiq Class Action Services Canada Inc., Attention: SouthGobi Class Action Settlement Administrator, PO Box 507 STN B, Ottawa ON K1P 5P6"},{"type":"online","label":"","value":"https://www.southgobiclassactionsettlement.ca"}],"administratorRole":"claims","agentName":"","agentContacts":[],"agentClaimFormHelp":false,"classCounselName":"Siskinds LLP","classCounselContacts":[{"type":"email","label":"","value":"donna.mcevoy@siskinds.com"},{"type":"mail","label":"","value":"Siskinds LLP, Barristers and Solicitors, 275 Dundas Street, Unit 1, London, Ontario N6B 3L1"}],"classCounselFirms":[{"name":"Siskinds LLP","region":"","contacts":[{"type":"email","label":"","value":"donna.mcevoy@siskinds.com"},{"type":"mail","label":"","value":"Siskinds LLP, Barristers and Solicitors, 275 Dundas Street, Unit 1, London, Ontario N6B 3L1"}]}],"submissionMethods":[{"type":"online","label":"Online claim portal","value":"https://www.southgobiclassactionsettlement.ca/en/claim"},{"type":"email","label":"Email","value":"Application@SouthGobiClassActionSettlement.ca"},{"type":"mail","label":"Mail or courier","value":"Epiq Class Action Services Canada Inc., Attention: SouthGobi Class Action Settlement Administrator, PO Box 507 STN B, Ottawa ON K1P 5P6"}],"sourceDocuments":[{"url":"/uploads/e7741a13f90e84adfbe83ea4-Second_notices_LFN_Dec_11_2025.pdf","title":"Notice to Class Members"},{"url":"/uploads/4e3f515fca1b9039e3c2beb9-Plan-of-allocation.pdf","title":"Additional Settlement Document"},{"url":"/uploads/a3339f24a4fe2eeacc0a5007-Second_notices_LFN_Dec_11_2025_FR.pdf","title":"Avis aux membres du groupe"}],"shortFormNoticeUrl":"/uploads/45fae85af1cdf60d0eb40626-Second-Notices_SFN_Dec_10_2025.pdf","longFormNoticeUrl":"/uploads/e7741a13f90e84adfbe83ea4-Second_notices_LFN_Dec_11_2025.pdf","settlementAgreementUrl":"","claimFormDocumentUrl":"","claimForms":[],"claimFormsButtonLabel":"claim-form","claimFormsUnavailable":true,"claimFormsUnavailableReason":"The claim form is available through the Claims Administrator, Epiq Class Action Services Canada Inc. The recommended method is to file online at https://www.southgobiclassactionsettlement.ca/en/claim, which walks you through the form step by step and lets you upload your brokerage statements or trade confirmations directly.\n\nIf you prefer a paper form, contact the Claims Administrator and they will send one by email or regular mail. Completed paper forms may be submitted by email to Application@SouthGobiClassActionSettlement.ca or by mail or courier to:\n\nEpiq Class Action Services Canada Inc.\nAttention: SouthGobi Class Action Settlement Administrator\nPO Box 507 STN B\nOttawa ON K1P 5P6\n\nAll claims, regardless of method, must be received by September 15, 2026 at 11:59 PM Eastern. Questions: 1-877-781-1550 or Info@SouthGobiClassActionSettlement.ca.","claimFormGuides":[],"additionalDocuments":[],"optOutFormUrl":"","optOutInstructions":"","objectionFormUrl":"","objectionInstructions":"","faqs":[{"answer":"Your completed claim form, including supporting documents, must be received by the Claims Administrator no later than June 15, 2026 at 11:59 PM Eastern time.","question":"What is the deadline to file a claim?"},{"answer":"There is no fixed amount per person. Each eligible claimant receives a share of the net settlement fund in proportion to their recognized loss, which is calculated from their SouthGobi share purchases and sales under the court-approved Plan of Allocation. Payments of less than $50 will not be issued; those amounts are redistributed to other eligible claimants.","question":"How much money can I receive?"},{"answer":"You must include supporting documentation with your claim, such as brokerage statements or trade confirmations showing your SouthGobi share purchases and sales. Start gathering these records early so you can file before the deadline.","question":"What proof do I need to provide?"},{"answer":"If the Claims Administrator disallows your claim entirely, you will receive a notice and can ask for reconsideration within 45 days of the date of that notice. If the claim is still disallowed after reconsideration, you can appeal electronically within 30 days to an arbitrator appointed by the Court, whose decision is final.","question":"What happens if my claim is rejected?"},{"answer":"Compensation is paid to approved claimants in Canadian currency after legal fees, taxes and administration expenses are deducted from the C$7,000,000 settlement amount.","question":"How will I be paid?"}],"eligibilityChecker":{"questions":[{"id":"acquired-shares-class-period","text":"Did you acquire SouthGobi Resources Ltd. securities between March 30, 2011 and November 7, 2013 inclusive?","type":"yes_no","helpText":"This includes common shares bought on the Toronto Stock Exchange, the Stock Exchange of Hong Kong, or Canadian alternative trading venues such as Alpha Toronto or Chi-X Toronto.","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"held-shares-november-8","text":"Did you still hold some or all of those SouthGobi securities at the close of trading on November 8, 2013?","type":"yes_no","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"excluded-person","text":"Are you the Defendant, one of its controlling shareholders, subsidiaries, affiliates, officers, directors, senior employees, partners, legal representatives, heirs, predecessors, successors or assigns, or China Investment Corporation?","type":"yes_no","qualifyingAnswer":"no","criticalForEligibility":true}],"uncertainMessage":"Some of your answers were Not sure, so we could not confidently determine your eligibility.","qualifyingMessage":"Based on your answers, you appear to fall within the class definition for this settlement.","nonQualifyingMessage":"Based on your answers, you do not appear to fall within the class definition for this settlement."},"claimCategories":[],"proceedings":null,"relatedSlugs":[],"group":null,"cardSummary":"If you bought SouthGobi Resources shares between March 2011 and November 2013 and still held some on November 8, 2013, you may be able to claim a share of a C$7 million settlement.","proofRequired":"","claimTime":"","claimAmount":"","coverageStartDate":"2011-03-30","coverageEndDate":"2013-11-07","deadline":"2026-09-15","optOutDeadline":"","objectionDeadline":"","approvalHearingDate":"","approvalHearingDates":[],"approvalPending":false,"resolution":"settlement","judgmentAppealed":false,"seriousHarmEnabled":false,"quietPresentation":false,"formHelperEnabled":false,"dateAdded":"2026-09-02","lastUpdated":"2026-09-17","firstPublishedAt":"2026-09-03 01:40:42","claimsOpenedAt":"2026-09-03 01:40:42","lastVerifiedAt":"2026-09-02","languages":["en","fr"]}}