SEC wraps probe into Molycorp's public disclosures

SEC wraps investigation into Molycorp's public disclosures, recommends no enforcement action

Associated Press

GREENWOOD VILLAGE, Colo. (AP) -- Shares of Molycorp Inc. surged more than 9 percent in after-hours trading on Thursday after the company disclosed that the Securities and Exchange Commission has completed a formal investigation into its public disclosures, recommending no enforcement action be taken against the company.

The rare-earth minerals company said it received word on the conclusion of the probe from the SEC on Thursday.

Regulators launched the probe into the accuracy of Molycorp's public disclosures, among other issues, last August.

At the time, the company said it was cooperating with the SEC.

Shares in Molycorp added 51 cents, or 9.1 percent, to $6.12 in after-market trading. The stock ended regular trading up 19 cents, or $3.51, at $5.61. The shares are down 41 percent this year.

View Comments