{"id":449980,"date":"2021-03-03T16:06:44","date_gmt":"2021-03-03T21:06:44","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=449980"},"modified":"2021-03-03T16:06:44","modified_gmt":"2021-03-03T21:06:44","slug":"regi-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-renewable-energy-group-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/regi-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-renewable-energy-group-inc\/","title":{"rendered":"REGI INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Renewable Energy Group, Inc."},"content":{"rendered":"
\n

NEW YORK, March 03, 2021 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Renewable Energy Group, Inc. (\u201cRenewable Energy \u201d or the \u201cCompany\u201d) (NASDAQ: REGI) from May 3, 2018, through February 25, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.<\/p>\n

If you purchased Renewable Energy securities, and\/or would like to discuss your legal rights and options<\/strong> please visit Renewable Energy Shareholder Class Action Lawsuit<\/a> or contact Matthew E. Guarnero<\/a> toll free at (877) 779-1414<\/strong> or MGuarnero@bernlieb.com<\/a><\/p>\n

The complaint alleges that throughout the Class Period, defendants made materially false and\/or misleading statements, as well as 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.<\/p>\n

On 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.<\/p>\n

On 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, on unusually heavy trading volume.<\/p>\n

If you wish to serve as lead plaintiff, you must move the Court no later than May 3, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn\u2019t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.<\/p>\n

If you purchased Renewable Energy securities, and\/or would like to discuss your legal rights and options<\/strong> please visit https:\/\/www.bernlieb.com\/cases\/renewableenergygroupinc-regi-shareholder-class-action-lawsuit-stock-fraud-371\/apply\/<\/a> or contact Matthew E. Guarnero<\/a> toll free at (877) 779-1414<\/strong> or MGuarnero@bernlieb.com<\/a>.<\/p>\n

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal\u2019s \u201cPlaintiffs\u2019 Hot List\u201d thirteen times and listed in The Legal 500 for ten consecutive years.<\/p>\n

ATTORNEY ADVERTISING. \u00a9 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.<\/p>\n

Contact Information<\/p>\n

Matthew E. Guarnero
Bernstein Liebhard LLP
https:\/\/www.bernlieb.com<\/a>
(877) 779-1414
MGuarnero@bernlieb.com<\/a><\/p>\n


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<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, March 03, 2021 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Renewable Energy Group, Inc. (\u201cRenewable Energy \u201d or the \u201cCompany\u201d) (NASDAQ: REGI) from May 3, 2018, through February 25, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934. If you purchased Renewable Energy securities, and\/or would like to discuss your legal rights and options please visit Renewable Energy Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 … <\/p>\n

Continue reading “REGI INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Renewable Energy Group, Inc.”<\/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-449980","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nREGI INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Renewable Energy Group, Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/regi-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-renewable-energy-group-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"REGI INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Renewable Energy Group, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, March 03, 2021 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Renewable Energy Group, Inc. 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