{"id":451886,"date":"2021-03-05T11:33:03","date_gmt":"2021-03-05T16:33:03","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451886"},"modified":"2021-03-05T11:33:03","modified_gmt":"2021-03-05T16:33:03","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-renewable-energy-group-inc-regi","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-renewable-energy-group-inc-regi\/","title":{"rendered":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Renewable Energy Group Inc. (REGI)"},"content":{"rendered":"

<\/p>\n

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Renewable Energy Group Inc. (REGI)<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–Glancy Prongay & Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming May 3, 2021 <\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired 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).\n<\/p>\n

\nIf you suffered a loss on your Renewable Energy investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/renewable-energy-group-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> to learn more about your rights.\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, on unusually heavy trading volume.\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

\nFollow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.\n<\/p>\n

\nIf you purchased or otherwise acquired Renewable Energy securities during the Class Period, you may move the Court no later than May 3, 2021 <\/b>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.\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\/20210305005079\/en\/<\/a><\/span><\/p>\n

\nGlancy Prongay & Murray LLP, Los Angeles
\n
Charles Linehan, 310-201-9150 or 888-773-9224
\n
shareholders@glancylaw.com
\n<\/a>
www.glancylaw.com<\/a><\/p>\n

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

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

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Renewable Energy Group Inc. (REGI) LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming May 3, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired 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). If you suffered a loss on your Renewable Energy investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/renewable-energy-group-inc\/. You can … <\/p>\n

Continue reading “Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Renewable Energy Group Inc. (REGI)”<\/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-451886","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGlancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Renewable Energy Group Inc. 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(REGI) LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming May 3, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired 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). If you suffered a loss on your Renewable Energy investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/renewable-energy-group-inc\/. You can … Continue reading "Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Renewable Energy Group Inc. 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