Deadline Today: The Law Firm of Levi & Korsinsky Notifies Investors with Losses on Their Investment in Molycorp, Inc. of Class Action Lawsuit and Today's Deadline to Seek a Lead Plaintiff Position
Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the District of
Colorado on behalf of investors who purchased Molycorp, Inc. ('Molycorp?
or the 'Company?) (NYSE: MCP) stock between March 9, 2011 and November
10, 2011 (the 'Class Period?).
For more information, click here: http://www.zlk.com/molycorp-mcp.html.
There is no cost or obligation to you.
The Complaint alleges that defendants misrepresented and/or failed to
disclose materially adverse facts about the Company′s 'Mountain Pass?
mining operations. Specifically, defendants misrepresented and/or failed
to disclose the following adverse facts during the Class Period: (a)
Molycorp′s development and expansion of the Mountain Pass mine was not
progressing on schedule and would not allow the Company to reach rare
earth oxide production rates at the end of calendar 2012 and 2013; and
(b) end users had been reducing demand for the Company′s products as
prices for rare earth elements increased. As a result of the
aforementioned Molycorp stock traded at artificially inflated prices
throughout the Class Period.
On November 10, 2011, the Company reported disappointing third quarter
2011 revenues and earnings results below analysts′ estimates and
announced a reduction in Mountain Pass production guidance for the
fourth quarter of 2011. The Company′s stock price fell, dropping from
$38.70 per share on November 10, 2011 to $33.45 per share on November
11, 2011, or 13.6%, on heavy trading volume.
If you suffered a loss in Molycorp you have until April 3, 2012to
request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn't require that you serve as a lead
plaintiff. To obtain additional information, contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com
or by telephone at (877) 363-5972, or visit http://www.zlk.com/molycorp-mcp.html.
Levi & Korsinsky has expertise in prosecuting investor securities
litigation and extensive experience in actions involving financial fraud
and represents investors throughout the nation, concentrating its
practice in securities and shareholder litigation. Attorney advertising.
Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky,
Esq.
Tel: 212-363-7500
Toll Free: 877-363-5972
Fax:
212-363-7171
www.zlk.com
