San Diego, CA -- (SBWIRE) -- 03/14/2012 -- A deadline is coming up on April 3, 2012 in the lawsuit filed for investors of Molycorp, Inc. (NYSE:MCP) over alleged Securities Laws Violations by Molycorp, Inc. for allegedly issuing false and misleading statements.
Investors with a substantial investment in Molycorp, Inc. (NYSE:MCP) shares between March 9, 2011 and November 10, 2011, should get active before the Deadline that is coming up on April 3, 2012 and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the District of Colorado the plaintiff alleges on behalf of purchasers of Molycorp, Inc. (NYSE:MCP common stock during the period between March 9, 2011 and November 10, 2011, that Molycorp, Inc. certain of its officers and directors violated the Securities Exchange Act of 1934. Specifically, the plaintiff alleges that the defendants’ alleged false and misleading statements about the capability of Molycorp’s “Mountain Pass” mining operation and Molycorp’s earnings caused Molycorp common stock to trade at artificially inflated prices between March 9, 2011 and November 10, 2011
On November 10, 2011, Molycorp, Inc reported its third quarter 2011 revenues and earnings results and announced a reduction in Mountain Pass production guidance for the fourth quarter of 2011 due to expected equipment downtime relating to Mountain Pass engineering and expansion issues.. The plaintiff alleges that the results were below analysts’ estimates
Molycorp’s stock NYSE:MCP price dropped from $38.70 per share on November 10, 2011 to at slightly below $23.50 per share in the end of December 2011.
Those who purchased shares of Molycorp, Inc. (NYSE:MCP), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego