Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of MP Materials Corp. (MP) on Behalf of Investors - Yahoo Finance
LOS ANGELES, November 03, 2021--(BUSINESS WIRE)--Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of MP Materials Corp. ("MP Materials" or the "Company") (NYSE: MP) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your MP Materials investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/mp-materials-corp/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On October 26, 2021, Grizzly Research published a research report titled: "MP Materials: Rare Earth Shenanigans in the Chamath-Backed Company Will Likely Cost Investors Dearly." Though the Company touts that it is the biggest rare earth producer in the Western world, making it the only logical competitor to Chinese producers, Grizzly Research claims that MP Materials is nothing more than a "smoke and mirror show." It found that Shenghe, a related third party and significant shareholder, accounts for 99% of MP Materials' revenue. Furthermore, the report traced that entity's ownership back to the Chinese government.
On this news, the Company’s stock price fell $4.62, or 12%, to close at $33.48 per share on October 26, 2021, thereby injuring investors.
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Whistleblower Notice: Persons with non-public information regarding MP Materials should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].
source: https://finance.yahoo.com/news/glancy-prongay-murray-llp-leading-190000307.html
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