Origin Materials’ Shareholder Settlement Gets First Court Nod

Origin Materials Inc.‘s corporate reform settlement earned a federal judge’s initial blessing to resolve shareholder allegations the sustainable plastics maker hid shifting plans that delayed construction for a manufacturing facility.

The shareholder derivative settlement would have Origin implement reforms for at least three years, a time period courts have held meaningful, Judge William B. Shubb said in an order entered Tuesday. The US District Court for the Eastern District of California judge preliminarily approved the agreement, under which Origin would establish a board “Operational Excellence Committee” and other changes.

• A proposed $9 million investor class settlement also tied to ...