Investors of AppHarvest Inc. will likely get their proposed $4,850,000 securities class action settlement approved as fair, reasonable, and adequate, a federal judge said in preliminarily approving the deal.
The investors alleged that in 2021, AppHarvest’s then President, CEO, and CFO made misleading statements that concealed the extent of labor and productivity issues the food production company had at its Morehead, Ky., farm. Lead plaintiff Alan Narzissenfeld alleged that those statements turned out to be false, and as a result, the stock price dropped when the truth was revealed, hurting him and other investors. However, only a few of the ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.