According to the Complaint, AppHarvest, Inc. is a sustainable food company that operates applied technology greenhouses to produce fresh, chemical-free, non-GMO fruits, vegetables, and related products. AppHarvest became a public company following a business combination with Novus Capital Corporation that closed on or about January 29, 2021.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that AppHarvest lacked sufficient training for its recently expanded labor force; (2) that, as a result, the Company could not produce Grade No. 1 tomatoes consistently; (3) that, as a result, the Company’s financial results would be adversely impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On December 13, 2021, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 21-CV-07985.

Lead Plaintiff filed a consolidated amended Complaint on March 2, 2022. Defendants filed a Motion to Dismiss the consolidated amended Complaint on May 2. On July 25, Lead Plaintiff filed a second consolidated amended Complaint. The Court dismissed the Motion to Dismiss as moot on August 1. Lead Plaintiff filed a corrected second consolidated amended Complaint on August 12.

Defendants filed a Motion to Dismiss the second consolidated amended Complaint on September 23, 2022. On July 31, 2023, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On August 1, 2023, Defendants filed a Suggestion of Bankruptcy as to AppHarvest, Inc. The Court issued an Order staying the case pending completion of the bankruptcy proceedings on August 15.

On February 20, 2024, Lead Plaintiff entered into a Stipulation and Agreement of Settlement with the individual Defendants. The Court granted preliminary approval of the Settlement on March 6. On July 11, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

On April 17, 2025, the Court issued an Order approving distribution of the Settlement funds.