NEW YORK, Sept. 20, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds purchasers of the securities of Molycorp, Inc. (NYSE:MCP) between August 2, 2012 and August 7, 2013, of the important October 15, 2013 class action deadline.
To join the Molycorp class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Defendants made misleading statements or failed to disclose that: (i) the Company's reported inventory was materially understated; (ii) the Company overstated its income tax benefit in the first quarter of 2013 by approximately $6.5 million; (iii) the Company lacked adequate internal and financial controls; and (iv) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times. The lawsuit claims that when these adverse facts entered the market, the value of Molycorp shares fell, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than October 15, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.