NEW YORK, Jan. 8, 2010 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers Rentech, Inc. ("Rentech" or the "Company") (AMEX:RTK) stock during the period between February 08, 2008 and December 15, 2009, inclusive (the "Class Period") for violations of the federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Rentech common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by March 1, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that it improperly reported as inventory certain deposit payments associated with natural gas purchase contracts. According to the complaint, after the Company revealed on December 14 and 15, 2009 that the Company would have to restate previously issued financial statements from 2008 to 2009 due to accounting errors related to the treatment of forward gas purchase contracts and inventory valuation, the value of Rentech's stock declined significantly.
The Brualdi Law Firm, P.C. is New York, New York based law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, with a particular emphasis on sophisticated class action litigation in the securities, and antitrust areas as well as corporate derivative suits. More information about the firm is available through its website, www.brualdilawfirm.com, and upon request from the firm.
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