The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Rentech, Inc. (NASDAQ: RTK) who purchased shares between November 9, 2016 and February 20, 2017. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially 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 its 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.
Shareholders have until April 24, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.