NEW YORK, Aug. 16, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Molycorp, Inc. ("Molycorp" or the "Company") (NYSE: MCP).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether: (i) the Company's income tax benefit was overstated for the first quarter of 2013; and (ii) Molycorp's reported inventory was materially understated.
On August 8, 2013, the Company announced that certain financial statements should no longer be relied upon. Following this news, the stock dropped over 9%.
Request more information now by clicking here: www.faruqilaw.com/MCP. There is no cost or obligation to you.
If you invested in Molycorp stock, bonds or options between August 2, 2012 and August 7, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/MCP. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Molycorp's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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