Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
 - EconoTimes)
NEW YORK, Feb. 23, 2017 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Rentech, Inc. (“RTK” or the “Company”) (Nasdaq:RTK) in the United States District Court for the Central District of California on behalf of persons or entities who purchased Rentech stock on the open market from November 9, 2016 and February 20, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s resources were not sufficient to overcome any operating challenges and remaining bottleneck at its Wawa facility; (2) consequently, the Wawa facility would not reach approximately 60% of production capacity within the next couple quarters and achieve full capacity in the range of 400,000 to 450,000 metric tons late in the year; (3) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
On February 21, 2017, the Company announced its decision to idle the Wawa facility due to equipment and operational issues that would require additional capital investment. On this news, shares of the Company fell over 47% from its previous closing price to close at $1.44 per share on February 21, 2017.
If you wish to serve as lead plaintiff, you must move the Court no later than April 24, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
