Origin Materials, Inc.
Lead Plaintiff Deadline 10/24/2023
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of California on behalf of those who acquired Origin Materials, Inc. (“Origin” or the “Company”) (NASDAQ: ORGN) securities during the period from February 23, 2023 through August 9, 2023, inclusive (the “Class Period”). Investors have until October 24, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On August 9, 2023, Origin announced that it was changing the product slate at its Origin 2 commercial plant and delay the timeline for construction on the Origin 2 plant, from its initial expectation for a mid-2025 completion to a two-phase completion, expected to finish in 2028. The Company also revealed that the construction on Origin 2 would cost more and yield less capacity than previously announced. On this news, the price of Origin shares declined by $2.88 per share, or approximately 67%, from $4.33 per share to close at $1.45 on August 10, 2023.
On August 9, 2023, Origin announced that it was changing the product slate at its Origin 2 commercial plant and delay the timeline for construction on the Origin 2 plant, from its initial expectation for a mid-2025 completion to a two-phase completion, expected to finish in 2028. The Company also revealed that the construction on Origin 2 would cost more and yield less capacity than previously announced. On this news, the price of Origin shares declined by $2.88 per share, or approximately 67%, from $4.33 per share to close at $1.45 on August 10, 2023.