ALERT: The Rosen Law Firm Announces Class Action Against Molycorp, Inc. - MCP

Before you go, we thought you'd like these...
Before you go close icon

ALERT: The Rosen Law Firm Announces Class Action Against Molycorp, Inc. - MCP

NEW YORK--(BUSINESS WIRE)-- The Rosen Law Firm, P.A. announces that a class action lawsuit has been filed on behalf of all purchasers of the securities of Molycorp, Inc. (NYS: MCP) between August 2, 2012 and August 7, 2013.

To join the Molycorp class action, visit the firm's website at http://www.rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.


NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According lawsuit, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's reported inventory was materially understated; (ii) the Company overstated its income tax benefit in the first quarter of 2013 by approximately $6.5 million; (iii) the Company lacked adequate internal and financial controls; and (iv) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times. The lawsuit claims that when these adverse facts entered the market, the value of Molycorp shares fell, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than October 15, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.comor kchan@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.



The Rosen Law Firm P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
275 Madison Avenue 34th Floor
New York, New York 10016
Tel: 212-686-1060
Toll Free: 1-866-767-3653
Fax: 212-202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

The article ALERT: The Rosen Law Firm Announces Class Action Against Molycorp, Inc. - MCP originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners