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NEW YORK, July 01, 2020 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors is investigating possible violations of federal securities laws on behalf of investors of Renewable Energy Group, Inc. (“Renewable Energy” or the “Company”) (REGI).
Renewable Energy provides lower carbon transportation fuels in the United States and internationally. The company utilizes an integrated production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels.
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 significantly 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 stock price fell from $28.58 on June 23, 2020 to $22.73 on June 24, 2020, a drop of $5.85 per share, or 20.47%.
If you are a shareholder of Renewable Energy who suffered a loss, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at email@example.com.
Whistleblowers: Persons with non-public information regarding Renewable Energy should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has in the past recovered billions of dollars on behalf of investors.
Lowey Dannenberg P.C.
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White Plains, NY 10601
Tel: (914) 733-7256