Join The Class Action Suit
Company: Renewable Energy Group, Inc.
Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Renewable Energy Group, Inc. (“Renewable Energy” or the “Company”) (NASDAQ: REGI) on behalf of investors who purchased shares of the Company’s securities between May 3, 2018 and February 25, 2021, inclusive (the “Class Period”).
As detailed in the complaint, on February 25, 2021, Renewable Energy issued a press release announcing its fourth quarter and full year 2020 financial results. Therein, the Company revealed that it would restate “$38.2 million in cumulative revenue from January 2018 through September 30, 2020” because Renewable Energy was not the “proper claimant for certain BTC payments on biodiesel it sold between January 1, 2017 and September 30, 2020.” Renewable Energy further stated that it had reached an agreement with the Internal Revenue Service “on a $40.5 million assessment, excluding interest” to correct these claims.
Following this news, shares of the Company’s stock fell $8.17 per share, or 9.5% in value, to close at $77.77 per share on February 26, 2021, on unusually heavy trading volume.
Renewable Energy stockholders who purchased shares of the Company’s common stock prior to February 25, 2021 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by completing the information form on this page, for additional information about this action and their legal rights and options.