NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Renewable Energy Group, Inc. (NASDAQ: REGI) on behalf of Renewable Energy stockholders. Our investigation concerns whether Renewable Energy has violated the federal securities laws and/or engaged in other unlawful business practices.
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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 sharply from the range of $20 million to $35 million that the Company had previously announced on April 30, 2020. Explaining its significantly revised outlook, Renewable Energy advised 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, Renewable Energy’s stock price fell $5.85 per share, or 20.47%, to close at $22.73 per share on June 24, 2020.
If you purchased or otherwise acquired Renewable Energy shares and suffered a loss, are a long-term stockholder, have information, 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 Melissa Fortunato or Marion Passmore by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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