An investor in NASDAQ:RTK shares filed a lawsuit against Rentech, Inc. over alleged Securities Laws violations. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Rentech, Inc. (NASDAQ:RTK) have certain options and for certain investors are short and strict deadlines running. Deadline: April 24, 2017. NASDAQ:RTK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
On February 21, 2017, Rentech, Inc. announced that it would idle its Wawa facility due to equipment and operational issues that would require additional unbudgeted capital investments. Rentech, Inc. also cited “continued uncertainty” concerning the profitability of pellets produced at the facility and advised investors that it was exploring strategic alternatives for both the Wawa facility and Rentech as a whole.
Shares of Rentech, Inc. (NASDAQ:RTK) declined from $2.78 per share in February 17, 2017 to as low as $1.12 per share on February 22, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of Rentech, Inc. (NASDAQ:RTK) common shares between November 9, 2016 and February 20, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 9, 2016 and February 20, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Rentech’s resources were not sufficient to overcome any operating challenges and remaining bottleneck at the Wawa facility, that 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, and that 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 March 7, 2017, NASDAQ:RTK shares closed at $0.75 per share.
Those who purchased NASDAQ:RTK shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com