WeissLaw LLP: Renewable Energy Group, Inc. is the Subject of a Legal Investigation
NEW YORK, July 28, 2020 /PRNewswire/ -- WeissLaw LLP, a national class action and shareholders' rights law firm with offices in New York, California and Georgia, announces an investigation of Renewable Energy Group, Inc. (NASDAQ: REGI) ("Renewable Energy," or the "Company").
If you own REGI shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/renewable-energy-group-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]
The investigation focuses on possible breaches of fiduciary duty and violations of federal securities laws by Renewable Energy's Board of Directors. Notably, on June 23, 2020, Renewable Energy announced that it anticipated adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization ('EBITDA')", to be in the range of negative $12 million and negative $2 million for the second quarter of 2020, representing a significant departure from the previously projected estimates in the $20 million to $35 million range. The Company attributed this substantial revision to errors and miscalculations in the guidance models used to for the estimates. Following the announcement, Renewable Energy shares tumbled from their June 23 trading high of $28.90 to trade for as low as $22.55 on the following day.
WeissLaw is investigating whether Renewable Energy's Board breached its fiduciary duties to the Company and its shareholders by failing to implement and maintain an effective system of internal controls over its financial reporting process.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP
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