The Law Firm of Levi & Korsinsky Announces Class Action Lawsuit Against Molycorp Inc

Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the District of Colorado on behalf of investors who purchased Molycorp, Inc. stock between March 9, 2011 and November 10, 2011 (the Class Period). The Complaint alleges that defendants misrepresented and/or failed to disclose materially adverse facts about the Company’s Mountain Pass mining operations. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts during the Class Period Molycorp’s development and expansion of the Mountain Pass mine was not progressing on schedule and would not allow the Company to reach rare earth oxide production rates at the end of calendar 2012 and 2013; and end users had been reducing demand for the Company’s products as prices for rare earth elements increased. As a result of the aforementioned Molycorp stock traded at artificially inflated prices throughout the Class Period.