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If you suffered losses in Origin Materials stock, contact Origin Materials stock loss lawyer Timothy L. Miles
The Origin Materials class action lawsuit seeks to represent purchasers or acquirers of Origin Materials, Inc. (NASDAQ: ORGN) securities between February 23, 2023 and August 9, 2023, inclusive (the “Class Period”). Captioned Soto v. Origin Materials, Inc., No. 23-cv-01816 (E.D. Cal.), the Origin Materials class action lawsuit charges Origin Materials and certain of its top officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Origin Materials stock and wish to serve as lead plaintiff in the class action against Origin Materials, contact Origin Materials Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Origin Materials lawsuit must be filed with the court no later than October 24, 2023. Read on for answers to five frequently asked questions in the Origin Materials class action lawsuit. what are the ALLEGATIONS IN THE ORIGIN MATERIALS CLASS ACTION LAWSUIT?
Origin Materials is a sustainable materials company that purports to have developed a platform to convert carbon found in biomass into carbon negative materials that can replace the petroleum-based substances typically used in various end products. On February 17, 2021, Origin Materials announced that it had entered into a merger agreement with Artius Acquisition Inc., a special purpose acquisition company (commonly known as a blank-check company or SPAC). The companies announced that as a consequence of the merger, Origin Materials would begin trading on the NASDAQ.
The Origin Materials class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Origin Materials 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; (iii) Origin Materials could not construct the Origin 2 plant at its previously disclosed cost; and (iv) Origin Materials could not construct the Origin 2 plant at the scale it had previously identified. On August 9, 2023, Origin Materials announced it was significantly delaying the timeline for construction on its Origin 2 commercial plan and changing the product slate at Origin 2. Origin Materials disclosed that it “now expects Origin 2 to be completed in two phases, with Phase 1 estimated to be completed in late 2026 to 2027, and Phase 2 estimated to be completed in 2028, compared with our initial expectation for a mid-2025 completion.” Origin Materials blamed the delay on the “high-cost environment” for capital projects. Origin Materials further revealed that the construction would cost more and yield less capacity than previously announced. On this news, the price of Origin Materials stock declined more than 66%, damaging investors. IF I SUFFERED LOSSES IN ORIGIN MATERIALS STOCK, WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE ORIGIN MATERIALS CLASS ACTION LAWSUIT?
Serving as a Lead Plaintiff in the Origin Materials class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Origin Materials stock if you suffered losses in Origin Materials stock. CAN I BE APPOINTED LEAD PLAINTIFF IN THE ORIGIN MATERIALS CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?
No. Even if you suffered losses in Origin Materials stock, if you purchased securities outside of the Class period, you will not be able to participate in the Origin Materials class action lawsuit.
CAN I BE APPOINTED LEAD PLAINTIFF IN THE ORIGIN MATERIALS CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?
No. Even if you suffered losses in Origin Materials stock, if you purchased securities outside of the Class period, you will not be able to participate in the Origin Materials class action lawsuit.
WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE ORIGIN MATERIALS CLASS ACTION LAWSUIT SETTLES?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Origin Materials class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Origin Materials class action lawsuit on behalf of investors who suffered losses in Origin Materials stock.
CONTACT A ORIGIN MATERIALS STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN ORIGIN MATERIALS STOCK ABOUT AN ORIGIN MATERIALS CLASS ACTION LAWSUIT
If you suffered losses in Origin Materials stock, contact Origin Materials stock loss lawyer Timothy L. Miles today for a free case evaluation about a class action against Origin Materials. Call today and see what an Origin Materials stock loss lawyer could do for you if you suffered losses in Origin Materials stock.
Origin Materials stock loss lawyer Timothy L. MilesNashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb ratedattorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. Comments are closed.
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The Law Offices of Timothy L. Miles Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846-6529 Email: [email protected] HOURS OF OPERATION Mon-Fri: 24/7 Sat-Sun: 24/7 |
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