Rentech, Inc. is an American company that owns and operates wood fiber processing and nitrogen fertilizer manufacturing businesses.

According to the law firm press release, the lawsuit alleges 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 the 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 unbudgeted capital investment. On this news, shares of Rentech fell $1.31 per share or over 47% from its previous closing price to close at $1.44 per share on February 21, 2017, damaging investors.

The first identified case was voluntarily dismissed on May 10, 2017. A related action continues in the Central District of California under 17-CV-01490.

On May 22, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on July 10. Defendants filed a Motion to Dismiss the amended Complaint on August 15. Lead Plaintiff filed a second amended Complaint on January 17, 2018. Defendants filed a Motion to Dismiss the amended Complaint on March 23. On June 11, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff was given leave to file an amended Complaint. On July 9, Lead Plaintiff filed a third amended Complaint. Lead Plaintiff voluntarily dismissed the charges against the Issuer Defendant on July 24. The case continues against the Individual Defendants. On August 8, the Individual Defendants filed a Motion to Dismiss the amended Complaint. On November 2, the Court granted the Defendants' Motion to Dismiss the amended Complaint. Plaintiff was given leave to amend. Lead Plaintiff filed a fourth amended Complaint on December 5, 2018.

On March 11, 2019, the parties filed a joint stipulation stating that they had reached an agreement to settle the action. On May 22, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on June 27. On November 4, the Court granted final approval of the Settlement and entered Final Judgment.