Origin Materials Leadership Sued by Shareholder Over Facility

Origin Materials Inc. leadership misled investors about shifting plans and delayed construction for its new sustainable materials manufacturing plant, a shareholder derivative lawsuit said.

Current and former executives and board members harmed the company’s finances and reputation by causing it to issue misleading statements about the facility’s purpose and construction timeline, said Thomas Kaspar’s complaint filed in the US District Court for the Eastern District of California. The day after new plans for the plant were announced in August 2023, the stock price fell over 66%, the March 7 complaint said—its worst day since it opened on the market, according ...