SAN DIEGO--(BUSINESS WIRE)--
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,
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 firstname.lastname@example.org.
There is no cost to you.
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
Source: Zeldes Haeggquist & Eck, LLP