-

VERTEX ENERGY SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Vertex Energy, Inc. - VTNR

NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 12, 2023 to file lead plaintiff applications in a securities class action lawsuit against Vertex Energy, Inc. (NasdaqCM: VTNR), if they purchased the Company’s securities between April 1, 2022 and August 8, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of Alabama.

What You May Do

If you purchased securities of Vertex and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqcm-vtnr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 12, 2023.

About the Lawsuit

Vertex and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On August 9, 2022, pre-market, the Company disclosed massive 2Q2022 losses incurred at its Mobile refinery, a net loss of $63.8 million, and that adjusted EBITDA for the Mobile refinery, even after adjusting for certain incurred losses, was only $63.6 million, compared to the prior guidance of $120-$130 million in the second quarter, a total shortfall of 50%.

On this news, shares of Vertex fell by 44% or $6.18 per share.

The case is Passmore v. Vertex Energy, Inc., No. 23-cv-0128.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you may visit http://ksfcounsel.com/.

Contacts

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850

Industry:

Kahn Swick & Foti, LLC

NASDAQ:VTNR
Release Versions
English

Contacts

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850

More News From Kahn Swick & Foti, LLC

Valaris Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Valaris Limited - VAL

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Valaris Limited (NYSE: VAL) to Transocean Ltd. (NYSE: RIG). Under the terms of the proposed transaction, shareholders of Valaris will receive 15.235 shares of Transocean stock for each share of Valaris that they own. KSF is seeking to determine whether this consideration and the process that led to...

SunOpta Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of SunOpta Inc. - STKL

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of SunOpta Inc. (NasdaqGS: STKL) to Refresco. Under the terms of the proposed transaction, shareholders of SunOpta will receive $6.50 in cash for each share of SunOpta that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consi...

Marine Products Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Marine Products Corporation - MPX

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Marine Products Corporation (NYSE: MPX) to MasterCraft Boat Holdings, Inc. (NasdaqGM: MCFT). Under the terms of the proposed transaction, shareholders of Marine Products will receive $2.43 in cash and 0.232 shares of MasterCraft common stock for each share of Marine Products that they own. Upon clos...
Back to Newsroom