Conspicuously absent from Mark Smith's resignation announcement was any mention of the SEC investigation over the accuracy of Molycorp's (MCP) disclosures. The take from 24/7's Jon Ogg: "To announce that a CEO has left the company with no explanation in the midst of a regulatory investigation is not in good taste at all. It could even be alarming." MCP -5.3% AH. [View news story]
One week he and other "insiders" are buying stock at $6/share...next week he abruptly "resigns". Something smells fishy...Did they just spike the stock to pay him off?
Conspicuously absent from Mark Smith's resignation announcement was any mention of the SEC investigation over the accuracy of Molycorp's (MCP) disclosures. The take from 24/7's Jon Ogg: "To announce that a CEO has left the company with no explanation in the midst of a regulatory investigation is not in good taste at all. It could even be alarming." MCP -5.3% AH. [View news story]