Origin Materials’ $9 Million Investor Deal Gets First Court Nod

Origin Materials Inc. earned a federal judge’s initial blessing of its $9 million agreement to resolve proposed class claims that the sustainable plastics maker hid from investors shifting plans that delayed a manufacturing facility’s construction.

Since the settlement came before class certification, it’ll face higher scrutiny before getting final approval, Judge William B. Shubb said in an order Thursday. The US District Court for the Eastern District of California judge preliminarily certified a settlement class of those who got Origin securities from March 7, 2023, to Aug. 9, 2023. The suit alleged the company concealed shifting its Origin 2 plant’s ...