NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Rentech, Inc. (“Rentech”) (NASDAQ: RTK) between November 9, 2016 and February 20, 2017. You are hereby notified that Levi & Korsinsky has commenced the class action Las Heras v. Rentech, Inc., et al. (1:17-cv-00997) in the USDC for the Eastern District of New York. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Rentech’s resources were not sufficient to overcome any operating challenges and remaining bottleneck at its Wawa facility; (2) consequently, 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; (3) as a result, defendants’ statements about Rentech’s 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. On this news, shares of Rentech fell over 47% from its previous closing price to close at $1.44 per share on February 21, 2017.
If you suffered a loss in Rentech you have until April 24, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.