San Diego, CA -- (SBWire) -- 02/24/2022 --An investigation was announced concerning potential securities laws violations by MP Materials Corp. and certain of its directors and officers in connection with certain financial statements.
Investors who purchased shares of MP Materials Corp. (NYSE: MP), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by MP Materials Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Las Vegas, NV based MP Materials Corp. engages in the ownership and operation of integrated rare earth mining and processing facilities. On February 3, 2022, short seller Bonitas Research published a report (the "Report") accusing MP Materials Corp. of executing an "abusive transfer price manipulation scheme" with a Chinese partner. Specifically, the Report alleged that since Q2 2021, MP and Shenghe Resources Holdings Co. ("Shenghe") "executed an abusive transfer price manipulation scheme whereby Shenghe overpaid for MP concentrates to artificially inflate MP's profits, [which] conveniently coincided with the SPAC insider lock-up expiration so that MP insiders could sell MP stock at artificially inflated prices." In addition, the Report cites a German academic study that concluded MP's ore at Mountain Pass is "not economically viable to harvest for rare earth metals while 12 of the other 13 well known rare earth mines outside of China are economically feasible" at current market prices.
Shares of MP Materials Corp. (NYSE: MP) declined from $53.03 per share on January 5, 2022, to $31.80 per share on February 3, 2022.
Those who purchased shares of MP Materials Corp. (NYSE: MP) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
MP Materials Corp. (NYSE:MP) Investor Notice: Investigation over Possible Securities Laws Violations
An investigation for investors in MP Materials Corp. (NYSE:MP) shares over potential securities laws violations by MP Materials Corp. was announced.