SHAREHOLDER ALERT: Pawar Law Group Announces a Securities Class Action Lawsuit Against Renewable Energy Group, Inc.– REGI
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NEW YORK, March 05, 2021 (GLOBE NEWSWIRE) -- Pawar Law Group announces a class action lawsuit on behalf of shareholders who purchased shares of Renewable Energy Group, Inc. (NASDAQ: REGI) from May 3, 2018 through February 25, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Renewable Energy Group, Inc. investors under the federal securities laws.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: due to failures in the diesel additive system, petroleum diesel was not periodically added to certain loads by the Company and was instead added by the Company’s customers; as a result, Renewable Energy Group was not the proper claimant for certain biodiesel tax credit (BTC) payments on biodiesel it sold between January 1, 2017 and September 30, 2020; a result, Renewable Energy Group’s revenue and net income were overstated for certain periods; there was a material weakness in the Company’s internal control over financial reporting related to the purchase and use of the petroleum diesel gallons when blending with biodiesel; and that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff, you must move the Court no later than May 3, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1410
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
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