Press release from Business Wire
Holzer Holzer & Fistel, LLC Announces Investigation into Potential Claims for Breaches of Fiduciary Duty by Certain Officers and Directors of Molycorp, Inc.
Wednesday, February 08, 2012
Holzer Holzer & Fistel, LLC Announces Investigation into Potential Claims for Breaches of Fiduciary Duty by Certain Officers and Directors of Molycorp, Inc.10:34 EST Wednesday, February 08, 2012 ATLANTA (Business Wire) -- Holzer Holzer & Fistel, LLC announces that it is investigating potential breaches of fiduciary duty by certain officers and directors of Molycorp Inc. (“Molycorp” or the “Company”) (NYSE: MCP). On February 3, 2012, a class action lawsuit was filed in the United States District Court for the District of Colorado alleging that Molycorp violated the federal securities laws between March 9, 2010 and November 10, 2011 (the “Class Period”). The lawsuit alleges, among other things, that Molycorp failed to adequately disclose that development and expansion of its Mountain Pass mine was not progressing on schedule. The lawsuit further alleges Molycorp failed to adequately disclose the negative impact rising prices for rare earth metals was having on demand for the Company's products. Holzer Holzer & Fistel, LLC's investigation seeks to determine if the allegations contained in the class action complaint also give rise to the separate claims against the Board of Directors for breaches of fiduciary duty, which could be enforced on behalf of the Company through shareholder derivative litigation. If you have continuously held shares since at least March 9, 2010 and would like to discuss your legal rights, you may contact Michael I. Fistel, Jr., Esq. or Marshall P. Dees, Esq. via email at email@example.com, or firstname.lastname@example.org, or via toll-free telephone at (888) 508-6832. Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content. Holzer Holzer & Fistel, LLCMichael I. Fistel, Jr., Esq., 888-508-6832 (toll-free)email@example.comMarshall P. Dees, Esq., 888-508-6832 (toll-free)firstname.lastname@example.org