The Law Offices of Frank R. Cruz announces an investigation on behalf of Renewable Energy Group, Inc. ("Renewable Energy" or the "Company") (NASDAQ: REGI) investors concerning the Company and its officers’ possible violations of federal securities laws.
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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 from the range of $20 million to $35 million that the Company had previously announced on April 30, 2020. The Company explained its considerably revised outlook by telling 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, the Company's share price fell $5.85, or over 20%, to close at $22.73 per share on June 23, 2020, thereby injuring investors.
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If you purchased Renewable Energy securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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