Renewable Energy Group Inc (REGI)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Renewable Energy Group, Inc. ("Renewable Energy” or "the Company") (NASDAQ: REGI). The investigation concerns whether Renewable Energy and certain of its officers and/or directors have violated federal securities laws.
On June 23, 2020, Renewable Energy issued a press release “announc[ing] that the Company’s second quarter 2020 Adjusted EBITDA is expected to be between negative $12 million and negative $2 million,” down sharply from the range of $20 million to $35 million that the Company had previously announced on April 30, 2020. Explaining its significantly revised outlook, Renewable Energy advised investors that “[t]he guidance model used in connection with the previous estimate contained inadvertent calculation errors, which on their own would have resulted in a significant reduction in the Company’s previous Adjusted EBITDA estimate.” On this news, Renewable Energy’s stock price fell $5.85 per share, or 20.47%, to close at $22.73 per share on June 24, 2020.
If you are aware of any facts relating to this investigation, or purchased Renewable Energy shares, you can also contact Peretz Bronstein of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.