CASES
Molycorp, Inc.
Class Period: Mar 9, 2011 to Nov 10, 2011
Lead Plaintiff Deadline: Apr 3, 2012 + Deadline passed
Summary of Case:
A class action has been filed against Molycorp, Inc. ("Molycorp" or the "Company") on behalf of all persons who purchased or otherwise acquired the common stock of Molycorp on the New York Stock Exchange ("NYSE") between March 9, 2011 and November 10, 2011. This case has been filed in the USDC Colorado.
The Complaint alleges that Defendants' Class Period false and misleading statements about the capability of the Company's "Mountain Pass" mining operation and the Company's earnings caused Molycorp common stock to trade at artificially inflated prices throughout the Class Period. During the Class Period, and immediately thereafter, investors learned that there would be less demand for rare earth elements and that the Company's third quarter 2011 financial results and fourth quarter 2011 production guidance would be less than investors had been led to expect. The price of the Company's common stock plummeted when the reasonably foreseeable consequences of defendants' Class Period fraud was disclosed. Unfortunately for unwitting investors, the capabilities of Mountain Pass have proven to be little more than hype.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.