{"id":469205,"date":"2021-03-31T17:27:28","date_gmt":"2021-03-31T21:27:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469205"},"modified":"2021-03-31T17:27:28","modified_gmt":"2021-03-31T21:27:28","slug":"investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-against-renewable-energy-group-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-against-renewable-energy-group-inc\/","title":{"rendered":"INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Renewable Energy Group, Inc."},"content":{"rendered":"

<\/p>\n

INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Renewable Energy Group, Inc.<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe law firm of Kirby McInerney LLP<\/a> announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Renewable Energy Group, Inc. (\u201cRenewable Energy\u201d or the \u201cCompany\u201d) (NASDAQ: REGI<\/a>) securities from May 3, 2018 through February 25, 2021, inclusive (the \u201cClass Period\u201d). Investors have until May 3, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\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. On this news, the Company\u2019s share price declined by $8.17 per share, or approximately 9.5%, to close at $77.77 per share on February 26, 2021, on unusually heavy trading volume.\n<\/p>\n

\nThe lawsuit 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 or otherwise acquired Renewable Energy securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod<\/a> of Kirby McInerney at 212-371-6600, by email at investigations@kmllp.com<\/a>, or by filling out this contact form<\/a>, to discuss your rights or interests with respect to these matters without any cost to you.\n<\/p>\n

Kirby McInerney<\/a> is a New York-based plaintiffs\u2019 law firm concentrating in securities, antitrust, and whistleblower litigation. The firm\u2019s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney\u2019s website: www.kmllp.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\/20210331006006\/en\/<\/a><\/span><\/p>\n

\nKirby McInerney LLP
\n
Thomas W. Elrod, Esq., (212) 371-6600
\n
investigations@kmllp.com
\n<\/a>
www.kmllp.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
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Renewable Energy Group, Inc. NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Renewable Energy Group, Inc. (\u201cRenewable Energy\u201d or the \u201cCompany\u201d) (NASDAQ: REGI) securities from May 3, 2018 through February 25, 2021, inclusive (the \u201cClass Period\u201d). Investors have until May 3, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. On February 25, 2021, after the market closed, Renewable Energy issued a press release announcing its fourth quarter and full … <\/p>\n

Continue reading “INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit 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-469205","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit 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\/investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-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=\"INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Renewable Energy Group, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Renewable Energy Group, Inc. 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