News Column

Zeldes Haeggquist & Eck, LLP Announces Investigation of Molycorp, Inc. Senior Convertible 6.00% Notes Due 9/1/2017

July 24, 2014



SAN DIEGO--(BUSINESS WIRE)-- Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation on behalf of investors who purchased Molycorp Inc. (NYSE: MCP) Senior Convertible 6.00% Notes due 9/1/2017 (the “Notes”). Specifically, Zeldes Haeggquist & Eck, LLP is investigating whether Molycorp and its top executives and officers made false and misleading statements in the prospectus and registration statement that the Company provided when issuing the Notes to the public on August 17, 2012.

On August 17, 2012, Molycorp sold approximately $360 million worth of Notes to the investing public via a public offering (the “Offering”). Zeldes Haeggquist & Eck, LLP is investigating whether, at the time of the Offering, Molycorp executives failed to disclose that Molycorp’s reported inventory was materially understated and that Molycorp lacked adequate internal and financial controls.

On August 8, 2013, Molycorp reported its second quarter 2013 results. Among other things, Molycorp reported that is quarterly Total Revenue declined from $146.37 million in the first quarter 2013 to $136.86 million in the second quarter 2013 and that its Net Loss increased from $47.22 million in the first quarter 2013 to $71.17 million in the second quarter 2013. The Molycorp Notes are now trading at approximately $59, down from the offering price of $100.

What You Can Do

If you purchased Molycorp Notes and have suffered a loss, you may have legal claims against Molycorp’s Officers and Directors. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at 619-342-8000, or by email at ambere@zhlaw.com. There is no cost to you.

Zeldes Haeggquist & Eck, LLP is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com or our blog for more information about the firm.




Zeldes Haeggquist & Eck, LLP

Amber L. Eck, 619-342-8000

ambere@zhlaw.com

Source: Zeldes Haeggquist & Eck, LLP


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