SHAREHOLDER ALERT: Kaskela Law LLC Announces Class Action Lawsuit Against Origin Materials, Inc. (ORGN) and Encourages Long-Term Origin Investors to Contact the Firm

/EIN News/ -- PHILADELPHIA, March 19, 2025 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Origin Materials, Inc. (NASDAQ: ORGN) (“Origin”) on behalf of certain investors who purchased shares of the company’s stock between February 23, 2023 and August 9, 2023 (the “Class Period”).

Click here to receive additional information: https://kaskelalaw.com/case/origin-materials/

According to the complaint, on February 17, 2021, Origin announced that it was undertaking a capital project to build the company’s largest and first commercial-scale plant, called Origin 2, which would produce paraxylene (PX). The defendants then represented that Origin 2’s construction would begin by mid-2023 and would be operational in mid-2025, and that the plant was expected to supply most of the Company’s products from 2025-2027.

However, the complaint charges defendants with actively misleading investors during the Class Period by failing to disclose that (i) Origin would not be able to meet its previously announced timeline for the construction of the Origin 2 plant; (ii) demand for PX had dropped such that it would not be the production focus of Origin 2; (iii) Origin could not construct Origin 2 at its previously disclosed cost; (iv) Origin could not construct Origin 2 at the scale it had previously identified; and (v) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and lacked a reasonable basis.

As detailed in the complaint, on August 9, 2023, Origin shocked the market when it reported its financial results for second quarter of 2023 and disclosed that Origin 2 was not progressing towards a mid-2025 start-up as previously represented, and that the plant would be smaller in scale than represented, cost more, and no longer produce its target product, PX. Following this disclosure, shares of the company’s stock fell $2.88 per share, or over 66% in value, to close at $1.45 per share on August 10, 2023.

The investigation seeks to determine – on behalf of Origin’s current shareholders – whether the members of Origin’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct and misstatements.

Current Origin stockholders who purchased or acquired shares of the company’s stock prior to February 23, 2023 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) to receive additional information about their legal rights and options at (484) 229 – 0750, or by clicking on the following link (or by copying and pasting the link into your browser):

https://kaskelalaw.com/case/origin-materials/

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 – 0750
www.kaskelalaw.com