LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Rentech, Inc. (“Rentech” or the “Company”) (Nasdaq: RTK) concerning possible violations of federal securities laws between November 9, 2016 and February 20, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the April 24, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that during the Class Period, Rentech made false and/or misleading statements and/or failed to disclose that: the Company’s resources were not sufficient to overcome any operating challenges and remaining bottleneck at its Wawa facility; that the Wawa facility would not reach approximately 60% of production capacity within the next couple quarters and achieve full capacity in the range of 400,000 to 450,000 metric tons late in the year; and that as a result of the above, Rentech’s statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times. On February 21, 2017, Rentech announced its decision to idle the Wawa facility due to equipment and operational issues that would require additional capital investment. When this news was announced, shares of Rentech fell in value, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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