NEW ORLEANS, Sept. 22, 2023 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have untilOctober 24, 2023 to file lead plaintiff applications in a securities class action lawsuit against Origin Materials, Inc. (NasdaqCM: ORGN), if they purchased the Company's securities between February 23, 2023, and August 9, 2023, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of California.
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About the Lawsuit
Origin Materials and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company would not be able to meet its previously announced timeline for the construction of its Origin 2 commercial plant; (ii) demand for paraxylene, a product that can replace non-sustainable chemicals in existing supply chains, had dropped such that it would not be the production focus of the Origin 2 plant; and (iii) the Company could not construct the Origin 2 plant at its previously disclosed cost or at the scale it had previously identified.
The case is Soto v. Origin Materials, Inc., et al., No. 23-cv-04332.
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