Rio Tinto reaches $138.75 million settlement over Mongolian mine

Rio Tinto RIO, RIO agreed to pay $138.75 million to settle a lawsuit accusing the Anglo-Australian mining giant of defrauding investors by failing to disclose problems with its $7 billion underground expansion of the Oyu Tolgoi copper and gold mine in Mongolia, according to court records.

A preliminary settlement was filed late on Wednesday with the U.S. District Court in Manhattan, and requires a judge's approval.