Renewal Fuels Provides Court Update on Share Rescission Case
February 27th, 2026 2:25 PM
By: Newsworthy Staff
Renewal Fuels, Inc. reports procedural developments in its court case seeking to cancel billions of shares, a critical step toward finalizing its corporate rebranding to American Fusion Inc.
Renewal Fuels, Inc. (OTC: RNWF) provided an update on its pending civil action in King County Superior Court. The company stated that on Feb. 26, 2026, the court dismissed all claims against Justin Costello under Civil Rule 41 and struck his emergency motion for stay after he was removed as a party. The court also struck the company's motion for entry of default judgment against the remaining corporate defendants on procedural grounds related solely to citation formatting. However, the court left defaults against those defendants in place and did not address service, rescission, the evidentiary record, or the merits of the claims.
The civil action seeks rescission of two 2021 asset purchase agreements and cancellation of approximately 1.683 billion shares allegedly issued without consideration. This legal matter is significant as it directly impacts the company's capital structure and share count. The resolution of this case is a prerequisite for the company's planned corporate actions with regulatory bodies.
Renewal Fuels said it is refiling a corrected motion in compliance with the court's procedural directives. The company believes this refiling represents the last remaining material item required to effect its corporate action with FINRA for a name and voluntary symbol change. Following its merger with Kepler Fusion Technologies, the company is operating under the American Fusion brand and has filed to change its legal name to American Fusion Inc. The company's strategy focuses on building a scalable, infrastructure-grade fusion energy platform supported by proprietary technology.
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Source Statement
This news article relied primarily on a press release disributed by InvestorBrandNetwork (IBN). You can read the source press release here,
