Origin Materials Settles Investor’s Manufacturing Plant Suit (1)

Origin Materials Inc. reached a settlement to resolve investor proposed class claims the sustainable plastics maker hid shifting plans that delayed construction for a manufacturing facility.

The investor leading the case, Todd Frega, told the US District Court for the Eastern District of California about the agreement Monday, saying he’d file the stipulation and seek Judge William B. Shubb‘s preliminary approval on or before Nov. 14. Frega’s suit alleged the company concealed shifting its Origin 2 plant’s focus away from making a chemical used to produce a form of polyester known as polyethylene terephthalate, delaying construction.

Frega adequately ...