Molycorp, Inc. - Securities Class Action

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Stanford Law School

Molycorp, Inc. Summary: According to a press release dated February 3, 2012, the complaint charges the Company and certain of its officers and directors with violations of the Securities Exchange Act of 1934.

The complaint alleges that defendants’ false and misleading statements about the capability of the Company’s “Mountain Pass” mining operation and the Company’s earnings caused its common stock to trade at artificially inflated prices throughout the Class Period. Specifically, the plaintiffs claims the defendants misrepresented and/or failed to disclose the following adverse facts during the Class Period: (a) the Company’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.

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 due to expected equipment downtime relating to Mountain Pass engineering and expansion issues. 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.

INDUSTRY CLASSIFICATION:
SIC Code: 1000
Sector: Basic Materials
Industry: Metal Mining

COMPANY/ISSUER NAME:	Molycorp, Inc.
COMPANY/ISSUER TICKER:	MCP
COMPANY WEBSITE:	http://www.molycorp.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Angelo Albano, et al. v. Molycorp, Inc., et al.

COURT: D. Colorado	DOCKET NUMBER: 12-CV-00292
JUDGE NAME: Hon.William J. Martinez
DATE FILED: 02/03/2012	SOURCE:
CLASS PERIOD START: 03/09/2011	CLASS PERIOD END: 11/10/2011
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Dyer & Berens LLP 303 East 17th Avenue, Suite 300, Denver, CO, 80203 (voice) 303.861.1764, (fax) 303.861.1764, Law Offices of Bernard M. Gross (Philadelphia) John Wanamaker Building; 100 Penn Square East, Suite 450, Philadelphia, PA, 19107 (voice) 215.561.3600, (fax) 215.561.3600, susang@bernardmgross.com Robbins Geller Rudman & Dowd LLP (San Diego) 655 West Broadway, Suite 1900, San Diego, CA, 92101 (voice) 619.231.1058, (fax) 619.231.7423, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Plaintiff’s Class Action Complaint for Violation of The Federal Securities Laws
Type: Complaint		Date on the document: 02/03/2012
U.S. District Court Civil Docket
Type: Docket		Date on the document: 02/03/2012

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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