Hey everyone, if you were riding with Origin Materials ($ORGN) back in 2023, you probably remember that absolute gut-punch of a day in August when the stock fell off a cliff. Now, the court has officially given the green light to a $9M settlement deal.
Here’s the breakdown of what actually happened:
In August 2023, Origin dropped the news that their "Origin 2" facility was facing massive cost overruns and major delays. With this news, the stock plummeted 66% in a single session, wiping out over $412 million in value almost instantly.
After that, shareholders sued shortly after, basically saying the company wasn't upfront about how messy the project timeline and operational readiness actually were.
Now, the court has approved the settlement terms. It’s not going to make everyone whole, but it's a $9M pot that belongs to the investors who took the hit.
If you bought in during the mess, you can [submit your claim](https://11th.com/cases/origin-investor-lawsuit) now to make sure you're in the loop for the payout.
Anyone else getting a piece of this one, or did you exit the position long ago?