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On February 21, 2017, pre-market, Rentech announced that the Company would idle its Wawa facility due to equipment and operational issues that would require additional unbudgeted capital investments. Rentech also cited "continued uncertainty" about the profitability of pellets produced at the facility and advised investors that it was exploring strategic alternatives for both the Wawa facility and the Company as a whole.
On this news, Rentech's share price has fallen as much as $1.33, or 48.36%, during intraday trading on February 21, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-rentech-inc--rtk-300410897.html
SOURCE Pomerantz LLP