Law firm investigating possible securities violations by REG
July 27, 2020
BY Ron Kotrba
The law firm Lowey Dannenberg P.C. is investigating possible violations of federal securities laws on behalf of investors of Renewable Energy Group Inc. after stock prices fell approximately 20 percent immediately following the company’s June 23 announcement that it would revise its expected second quarter adjusted EBITDA from somewhere between $20 million and $35 million down to between negative $12 million and negative $2 million.
The downward revision in projected adjusted EBITDA, according to REG, was due to several factors, including “…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 REG stock price fell from $28.58 on June 23 to $22.73 June 24.
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Lowey Dannenberg is asking REG shareholders who have suffered losses from this to contact its attorneys.
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