{"id":449895,"date":"2021-03-03T14:03:12","date_gmt":"2021-03-03T19:03:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=449895"},"modified":"2021-03-03T14:03:12","modified_gmt":"2021-03-03T19:03:12","slug":"investor-alert-law-offices-of-howard-g-smith-announces-the-filing-of-a-securities-class-action-on-behalf-of-renewable-energy-group-inc-regi-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-law-offices-of-howard-g-smith-announces-the-filing-of-a-securities-class-action-on-behalf-of-renewable-energy-group-inc-regi-investors\/","title":{"rendered":"INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Renewable Energy Group Inc. (REGI) Investors"},"content":{"rendered":"

<\/p>\n

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Renewable Energy Group Inc. (REGI) Investors<\/b><\/p>\n

BENSALEM, Pa.–(BUSINESS WIRE<\/a>)–
\nLaw Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Renewable Energy Group, Inc. (\u201cRenewable Energy\u201d or the \u201cCompany\u201d) (NASDAQ: REGI<\/a>) securities between May 3, 2018 and February 25, 2021<\/b>, inclusive (the \u201cClass Period\u201d). Renewable Energy investors have until May 3, 2021 <\/b>to file a lead plaintiff motion.\n<\/p>\n

\nInvestors suffering losses on their Renewable Energy investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com<\/a>.\n<\/p>\n

\nOn February 25, 2021, after the market closed, Renewable Energy issued a press release announcing its fourth quarter and full year 2020 financial results. Therein, the Company revealed that it would restate \u201c$38.2 million in cumulative revenue from January 2018 through September 30, 2020\u201d because Renewable Energy was not the \u201cproper claimant for certain BTC payments on biodiesel it sold between January 1, 2017 and September 30, 2020.\u201d Renewable Energy further stated that it had reached an agreement with the Internal Revenue Service \u201con a $40.5 million assessment, excluding interest\u201d to correct these claims.\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $8.17, or 9.5%, over two consecutive trading sessions to close at $77.77 per share on February 26, 2021, thereby injuring investors.\n<\/p>\n

\nThe complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that due to failures in the diesel additive system, petroleum diesel was not periodically added to certain loads by the Company and was instead added by the Company\u2019s customers; (2) that, as a result, Renewable Energy was not the proper claimant for certain BTC payments on biodiesel it sold between January 1, 2017 and September 30, 2020; (3) that, as a result, Renewable Energy\u2019s revenue and net income were overstated for certain periods; (4) that there was a material weakness in the Company\u2019s internal control over financial reporting related to the purchase and use of the petroleum diesel gallons when blending with biodiesel; and (5) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nIf you purchased Renewable Energy securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com<\/a>, or visit our website at www.howardsmithlaw.com<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210303005294\/en\/<\/a><\/span><\/p>\n

\nLaw Offices of Howard G. Smith
\n
Howard G. Smith, Esquire
\n
215-638-4847
\n
888-638-4847
\n
howardsmith@howardsmithlaw.com
\n<\/a>
www.howardsmithlaw.com<\/a><\/p>\n

\n\u00a0\n<\/p>\n

KEYWORDS:<\/b> United States North America California Pennsylvania<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Renewable Energy Group Inc. (REGI) Investors BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Renewable Energy Group, Inc. (\u201cRenewable Energy\u201d or the \u201cCompany\u201d) (NASDAQ: REGI) securities between May 3, 2018 and February 25, 2021, inclusive (the \u201cClass Period\u201d). Renewable Energy investors have until May 3, 2021 to file a lead plaintiff motion. Investors suffering losses on their Renewable Energy investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email … <\/p>\n

Continue reading “INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Renewable Energy Group Inc. (REGI) Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-449895","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Renewable Energy Group Inc. 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Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Renewable Energy Group, Inc. (\u201cRenewable Energy\u201d or the \u201cCompany\u201d) (NASDAQ: REGI) securities between May 3, 2018 and February 25, 2021, inclusive (the \u201cClass Period\u201d). Renewable Energy investors have until May 3, 2021 to file a lead plaintiff motion. Investors suffering losses on their Renewable Energy investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email … Continue reading "INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Renewable Energy Group Inc. 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