MP Materials Corp.
f/k/a Fortress Value Acquisition Corp.
(MP; FVAC; FVAC WS; FVAC.U)
Class Action & Lead Plaintiff Deadline: April 25, 2022
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against MP Materials Corp. f/k/a Fortress Value Acquisition Corp. (“MP Materials” or the “Company”) (NYSE: MP; FVAC; FVAC WS; FVAC.U) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired MP Materials securities between May 1, 2020 and February 2, 2022, inclusive (the "Class Period"). Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) FVAC had overstated its due diligence efforts and expertise with respect to identifying target companies to acquire; (2) FVAC performed inadequate due diligence into Legacy MP Materials prior to the Business Combination, or else ignored significant red flags regarding, inter alia, Legacy MP Materials’ management, compliance policies, and Mountain Pass’s profitability; (3) as a result, the Company’s future business and financial prospects post-Business Combination were overstated; (4) MP Materials engaged in an abusive transfer price manipulation scheme with a related party in the People’s Republic of China (“China”) to artificially inflate the Company’s profits; (5) MP Materials’ ore at Mountain Pass was not economically viable to harvest for rare earth metals; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/mp or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in MP Materials you have until April 25, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.