MP Investors Have Opportunity to Lead MP Materials Corp. f/k/a Fortress Value Acquisition Corp. Securities Fraud Lawsuit
LOS ANGELES, April 21, 2022 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against MP Materials Corp. ("MP Materials" or the "Company") f/k/a Fortress Value Acquisition Corp. ("FVAC") (NYSE: MP).
Class Period: May 1, 2020 – February 2, 2022
Lead Plaintiff Deadline: April 25, 2022
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) FVAC had overstated its due diligence efforts and expertise with respect to identifying target companies to acquire; (2) FVAC performed inadequate due diligence into Legacy MP Materials prior to the Business Combination, or else ignored significant red flags regarding, among other things, Legacy MP Materials' management, compliance policies, and Mountain Pass's profitability; (3) as a result, the Company's future business and financial prospects post-Business Combination were overstated; (4) MP Materials engaged in an abusive transfer price manipulation scheme with a related party in the People's Republic of China to artificially inflate the Company's profits; (5) MP Materials' ore at Mountain Pass was not economically viable to harvest for rare earth metals; and (6) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
SOURCE The Law Offices of Frank R. Cruz, Los Angeles
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