Molycorp Securities Litigation
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Welcome to the Molycorp Securities Litigation Settlement Website

This website has been established to provide general information related to the proposed settlement ("Settlement") of the In re Molycorp, Inc. Securities Litigation, Civil Action No. 1:12-cv-00292-RM-KMT (the "Litigation"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated October 27, 2016, which can be found and downloaded by clicking on the Case Documents tab above. 

This Litigation is currently pending before the Honorable Raymond P. Moore in the United States District Court for the District of Colorado (the “Court”). The Court has appointed the law firms of Robbins Geller Rudman & Dowd LLP and Kessler Topaz Meltzer & Check, LLP as Lead Counsel to represent the Class.

The Settlement resolves class action litigation over allegations that Molycorp, Inc. ("Molycorp"), certain of Molycorp’s current and former officers and directors, and certain underwriters for public offerings in 2011 made or were otherwise liable for material misrepresentations and omissions during the Class Period concerning Molycorp’s Mountain Pass mine.

Defendants, individually and collectively, have denied and continue to deny that they engaged in any wrongdoing of any kind, or that they violated or breached any law, regulation, or duty owed to Lead Plaintiffs.  Defendants have vigorously denied and continue to deny all charges of wrongdoing or liability against them arising out of any of the conduct, statements, acts or omissions alleged, or that could have been alleged, in the Litigation.  Defendants deny that the Lead Plaintiffs or any Member of the Class (defined below) have suffered damages, that the prices of Molycorp common and Preferred Stock were artificially inflated during the Class Period as the result of any alleged misrepresentations, omissions, non-disclosures or otherwise by Defendants, and that the Lead Plaintiffs or the Class were harmed by the conduct alleged in the First Amended Complaint.  Defendants further deny that Molycorp’s publicly filed documents contained any alleged material misrepresentation and/or omission.

The Settlement will create a fund in the amount of $20,500,000.00, plus any interest earned thereon after it is deposited (the “Settlement Fund”).  The Settlement Fund, less any approved administrative expenses, and any attorneys' fee and expense amounts awarded, will be distributed to eligible Class Members according to a Court-approved Plan of Allocation.

The Class is defined as all persons who purchased or otherwise acquired Molycorp securities from February 7, 2011 through November 10, 2011, inclusive, including all persons who purchased or acquired Molycorp common stock and/or Molycorp 5.50% Series A Mandatory Convertible Preferred Stock ("Preferred Stock") pursuant to the February 2011 offering, and all persons who purchased or acquired Molycorp common stock pursuant to the June 2011 offering, and who were damaged thereby.  Certain persons and entities are excluded from the definition of the Class as set forth in the Stipulation and the Notice of Pendency and Proposed Settlement of Class Action (the "Notice"), which can be viewed by clicking on the Case Documents tab above.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation, both of which can be found and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

Submit a Proof of Claim If you wish to share in the Settlement, you must complete and submit a Proof of Claim.  If you choose this option, you will share in the proceeds of the Settlement if your claim is timely, valid, and entitled to a distribution under the Plan of Allocation and if the Settlement is finally approved by the Court; and you will be bound by the Judgment and release to be entered by the Court.  Proofs of Claim must be submitted online, or postmarked, if mailed, no later than June 14, 2017.
Exclude Yourself from the Class If you do not wish to be included in the Class and you do not wish to participate in the Settlement, you may request to be excluded.  If you choose to be excluded from the Class, (a) you are not entitled to share in the proceeds of the Settlement; (b) you are not bound by any judgment entered in the Litigation; and (c) you are not precluded by the Settlement from otherwise prosecuting an individual claim against Defendants, if timely, based on the matters complained of in the Litigation. Exclusion requests must be postmarked no later than May 22, 2017.
Object You may object to the Settlement, the Plan of Allocation, Lead Counsel’s application for attorneys’ fees and expenses, and/or Lead Plaintiffs’ request for expenses. If you object, you will still be a Member of the Class. Written objections must be received, not simply postmarked, on or before May 22, 2017 by the Court and counsel.
Go to the Final Approval Hearing on June 16, 2017 If you are a Class Member, you may, but are not required to, enter an appearance through counsel at your own expense. Requests to appear must be received by the Court and counsel on or before June 2, 2017.
Do Nothing You may do nothing at all. If you choose this option, you will not share in the proceeds of the Settlement, but you will be bound by any judgment entered by the Court, and you shall be deemed to have, and by operation of the Judgment shall have, fully released all of the Released Claims against the Released Parties.