The law firm of Kirby McInerney LLP is investigating potential claims against MP Materials Corp. (“MP Materials” or the “Company”) (NYSE: MP). The investigation concerns whether MP Materials has violated the federal securities laws and/or engaged in other unlawful business practices.
MP Materials operates rare earth mining and processing facilities.
On February 3, 2022, market analyst Bonitas Research published a report accusing MP Materials of an abusive transfer price manipulation scheme with a related party. In relevant part, the report alleged that a 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.” On this news, MP Material’s stock price declined by $5.61 per share, or approximately 14.3%, from $39.36 per share to close at $33.75 per share on February 3, 2022.
If you purchased or otherwise acquired MP Materials securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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Kirby McInerney LLP
Thomas W. Elrod, Esq.