Sustainable Plastic Maker Trims Investor Suit on New Facility

Origin Materials Inc. and one of its executives must defend against some claims they misled investors about shifting plans and delayed construction for its new sustainable plastic manufacturing plant, a federal judge ruled.

Lead plaintiff Todd Frega adequately pled that a pair of powerpoints and a federal disclosure were misleading about the change in plans, said Judge William B. Shubb of the US District Court for the Eastern District of California. But allegations against co-CEO Rich Riley weren’t up to snuff and multiple other optimistic company statements either weren’t misleading or otherwise weren’t actionable, the judge said Wednesday, granting partial ...