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SEC taking no action vs. Molycorp

Keywords: Tags  Molycorp, Securities and Exchange Commission, SEC, Mark Smith, rare earths

NEW YORK — The Securities and Exchange Commission (SEC) has recommended that no enforcement action be taken against rare earths miner Molycorp Inc. following an investigation into the company’s public disclosures.

Some analysts had tied the departure of chief executive officer Mark Smith late last year to the investigation, which was opened in August (, Dec. 12).

A private class-action lawsuit accusing the Greenwood Village, Colo.-based company of violating the Securities Exchange Act remains unresolved, a company spokesman said in an e-mail.

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