Recent Security Class Actions

MP Materials Corp. Common Stock (NYSE: MP)

Company Name:MP Materials Corp. Common Stock
Stock Symbol:NYSE: MP
Class Period Start:05/01/2020
Class Period End (inclusive):02/02/2022

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, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) FVAC had overstated its due diligence efforts and expertise with respect to identifying target companies to acquire; (ii) 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; (iii) as a result, the Company’s future business and financial prospects post-Business Combination were overstated; (iv) MP Materials engaged in an abusive transfer price manipulation scheme with a related party in the People’s Republic of China to artificially inflate the Company’s profits; (v) 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.