The Law Offices of Frank R. Cruz announces an investigation of MP Materials Corp. (“MP Materials” or the “Company”) (NYSE: MP) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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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If you purchased MP Materials securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, 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 info@frankcruzlaw.com, 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.
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The Law Offices of Frank R. Cruz Announces Investigation of MP Materials Corp. (MP) on Behalf of Investors
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
