Investigating Potential Claims Involving Molycorp Inc.
Did you lose money investing in Molycorp Inc. at the recommendation of your broker? If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Molycorp, Inc. produces and sells rare earths and rare metal materials in the United States and internationally. The company’s Resources segment extracts rare earth minerals, according to Bloomberg. The company sells its products directly to customers; and through distributors. Molycorp, Inc. was founded in 2010 in Greenwood Village, Colorado.
The company reportedly filed for bankruptcy in June 2016 with more than $1.7 billion in debt after prices for rare earths fell when China lifted export restrictions.
Molycorp Changes Name to Neo Performance Materials
On August 31, 2016, Molycorp Inc. emerged from Chapter 11 bankruptcy protection with a new name, Neo Performance Materials.
Shares of common stock of former Molycorp, Inc. are no longer available for trading on a public exchange. Previous shares of common stock have been canceled with no distribution to the holders, according to a press release.
Recovery of Investment Losses
Broker dealers are required to perform adequate due diligence on any recommended investment. They must ensure that all recommendations are suitable for the investor. Recommendations should be appropriate in light of the investor’s age, risk tolerance, net worth, and investment experience.
If you have suffered losses investing in Molycorp Inc. at the recommendation of your financial advisor and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at 888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.