A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Molycorp Inc (NYSE:MCP) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on May 18, 2017 and NYSE:MCP investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/27/2017 -- The Shareholders Foundation announces that a deadline is coming up on May 18, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Molycorp Inc (NYSE:MCP) between February 21, 2012 and October 15, 2013.
Investors who purchased a significant amount of shares of Molycorp Inc (NYSE:MCP) between February 21, 2012 and October 15, 2013, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Molycorp Inc (NYSE:MCP) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/molycorp-inc-nyse-mcp-investor-securities-class-action-lawsuit-08142013
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is May 18, 2017. The class action administrator for this case is Angeion Group.
The lawsuit was originally filed in the U.S. District Court for the Southern District of New York against Molycorp Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between August 2, 2012 and August 7, 2013. According to the complaint the plaintiff alleges on behalf of purchasers Molycorp Inc (NYSE:MCP) common stock during the period between August 2, 2012 and August 7, 2013, that Molycorp Inc and certain of its officers violated the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff alleges that defendants made false and/or misleading statements and/or failed to disclose that Molycorp Inc's reported inventory was materially understated, that Molycorp Inc overstated its income tax benefit in the first quarter of 2013 by approximately $6.5 million, that Molycorp Inc lacked adequate internal and financial controls, and that as a result of the foregoing, Molycorp Inc's statements were materially false and misleading at all relevant times.
Those who purchased shares of Molycorp Inc (NYSE:MCP) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com