Rentech Announces Settlement of Securities Class Action and Shareholder Derivative Lawsuits

Rentech, Inc. RTK announced today that it has reached agreements to settle all of the class action lawsuits pending in federal court and all of the shareholder derivative lawsuits pending in state and federal court against the Company and a number of its current and former directors and officers. The lawsuits relate to the Company's restatement in December 2009 of certain of its financial statements for fiscal year 2008 and the first three quarters of fiscal year 2009. The Company believes that it is in the best interests of its stockholders to settle the matters at a reasonable cost to avoid potentially protracted and expensive litigation. The Company and the individual defendants have denied any liability or wrongdoing in connection with the allegations contained in these lawsuits. The settlement for the consolidated class action lawsuits pending in United States District Court for the Central District of California provides for a settlement fund of $1.8 million, from which plaintiffs' counsel will seek an award of attorneys fees and expenses.