MP - MP Alert: Monsey Firm of Wohl & Fruchter LLP Investigating MP Materials Corp.
MONSEY, N.Y., Feb. 03, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether MP Materials Corp. (NYSE:MP) (“MP”) has violated federal securities laws. If you suffered losses as a result of today’s drop in the price of MP, and have questions about your legal rights, please use the following link to contact us to discuss your options at no charge:
https://wohlfruchter.com/cases/mp-materials/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com .
Why is there an investigation?
On February 3, 2022, Bonitas Research published a report alleging that MP engaged in an abusive transfer price manipulation scheme with a related party that owns 8% of MP’s shares. The report alleges that the related party “overpaid for MP concentrates to artificially inflate MP’s profits. The 2021 scheme conveniently coincided with the SPAC insider lock-up expiration so that MP Insiders could sell MP stock at artificially inflated prices.”
As a result of the scheme, the report claims, MP’s profits soared, and MP insiders sold US$ 400+ million worth of MP stock in 2021.
On this disclosure, MP Materials’ share price dropped over 9% as of 10:45 AM.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com , to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com