Hey guys, Origin Materials recently settled with its investors over issues related to the Origin 2 plant. And now, the settlement was submitted to the court for the final approval.
Long story short, in 2023, Origin Materials was accused of misleading investors about the timeline, costs, capacity, and demand tied to its Origin 2 commercial plant. In August 2023, the company announced major changes to the product slate and delayed construction of Origin 2 from an expected mid-2025 completion to a two-phase build stretching out to 2028. Origin also disclosed that the plant would cost more and deliver less capacity than previously promised, and that demand for paraxylene (PX) had dropped significantly.
After this news came out, $ORGN fell by over 66%, wiping out more than $412 million in market value, and investors filed a lawsuit for their losses.
The company has already agreed to a $9M agreement and is waiting for final approval. So, if you invested in $ORGN when all of this happened, you can already check the details and [file your claim](https://11th.com/cases/origin-investor-lawsuit).
Anyway, has anyone here invested in $ORGN at that time? How much were your losses, if so?