Law Firm Planner - Legal News - The Shuman Law Firm Announces Class Action
Law Firm News
Today's Date: Bookmark This Website
The Shuman Law Firm Announces Class Action
Headline News | 2012/02/13 10:07
The Shuman Law Firm today announced that a lawsuit seeking class action status has been filed in the U.S. District Court for the District of Colorado on behalf of purchasers of the common stock of Molycorp, Inc. between March 9, 2011 and November 10, 2011, inclusive (the “Class Period”).

If you wish to discuss this action or have any questions concerning this notice or your rights and interests with respect to this matter, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.

The complaint alleges that Molycorp and certain of its officers and directors violated federal securities laws by issuing materially false and misleading statements regarding the Company's business and prospects. Specifically, it is alleged that the 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.

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 from $38.70 per share on November 10, 2011 to $33.45 per share on November 11, 2011, or approximately 13.6%.

If you purchased Molycorp common stock during the Class Period, you may request that the Court appoint you as lead plaintiff of the class no later than April 3, 2012. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation.

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in investor rights litigation.


[PREV] [1] ..[1770][1771][1772][1773][1774][1775][1776][1777][1778].. [2806] [NEXT]
All
Law Firm News
Headline News
Law Center
Court Watch
Legal Interview
Topics
Lawyer News
Legal Focuses
Opinions
Marketing
Politics
Firm News
Texas’ migrant arrest law w..
Former Georgia insurance com..
Alabama woman who faked kidn..
A Supreme Court ruling in a ..
Court upholds mandatory pris..
Trump wants N.Y. hush money ..
Supreme Court restores Trump..
Supreme Court casts doubt on..
Donald Trump appeals $454 mi..
Dani Alves found guilty of r..
Ken Paxton petitions to stop..
Attorney Jenna Ellis pleads ..
Trump arrives in federal cou..
Why Trump's bid for presiden..
UN court rejects most of Ukr..


   Lawyer & Law Firm List
Indianapolis Personal Injury Law Firm
Indiana, IN Personal Injury Attorneys
www.williamspiatt.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Chicago Truck Drivers Lawyer
Chicago Workers' Comp Attorneys
www.krol-law.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
 
 
© Law Firm Planner. All rights reserved. - Legal News and Articles on Recent US Legal Developments.

The content contained on the web site has been prepared by Law Firm Planner Media as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Legal Blog postings and hosted comments are available for general educational purposes only and should not be used to assess a specific legal situation. Affordable Law Firm Website Design by Law Promo