Molycorp (MCP) Slammed on Formal SEC Investigation
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The downside and now volatility trading halt in Molycorp, Inc. (NYSE: MCP) is related to the disclosure on a formal order of investigation by the SEC related to the accuracy of the Company's public disclosures.
From the Filing:
In August 2012, the staff of the SEC notified the Company that a formal order of investigation had been issued regarding, among other things, the accuracy of the Company's public disclosures. The Company is cooperating with the staff of the SEC in connection with the investigation. The Company cannot predict the length, scope or results of the investigation or the impact, if any, of the investigation on the Company's results of operations.
From the Filing:
In August 2012, the staff of the SEC notified the Company that a formal order of investigation had been issued regarding, among other things, the accuracy of the Company's public disclosures. The Company is cooperating with the staff of the SEC in connection with the investigation. The Company cannot predict the length, scope or results of the investigation or the impact, if any, of the investigation on the Company's results of operations.
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