Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 3, 2021 to file lead plaintiff applications in a securities class action lawsuit against Renewable Energy Group, Inc. (NasdaqGS: REGI), if they purchased the Company’s securities between May 3, 2018 and February 25, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Renewable and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-regi/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 3, 2021.
About the Lawsuit
Renewable and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 25, 2021, post-market, the Company announced its 4Q and full year 2020 financial results, disclosing that it would restate “$38.2 million in cumulative revenue from January 2018 through September 30, 2020” because it was not the “proper claimant for certain BTC payments on biodiesel it sold between January 1, 2017 and September 30, 2020,” and that it had reached an agreement with the Internal Revenue Service “on a $40.5 million assessment, excluding interest” to correct these claims.
On this news, shares of Renewable 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.
The case is Ramsey v. Renewable Energy Group, Inc., et al., 1:21-cv-01832.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210303006055/en/
Contacts:
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
