NEW YORK, April 26, 2021 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Renewable Energy Group, Inc. (“Renewable Energy” or the “Company”) (NASDAQ: REGI) and certain of its officers. The class action, filed in the United States District Court for the Central District of California, and docketed under 21-cv-02244, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Renewable Energy securities between May 3, 2018 and February 25, 2021, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”).
If you are a shareholder who purchased Renewable Energy securities during the Class Period, you have until May 3, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here for information about joining the class action]
Renewable Energy provides clean, low carbon transportation fuels. It is North America’s largest producer of advanced biofuels.
The biodiesel tax credit (“BTC”) is a federal biodiesel mixture excise tax credit whereby the first person to blend pure biomass-based diesel with petroleum-based diesel fuel receives a $1.00-per-gallon refundable tax credit. It is an incentive shared across the advanced biofuel production and distribution chain through routine, daily trading and negotiation. The BTC was first implemented on January 1, 2005 but has been allowed to lapse and then been reinstated, sometimes retrospectively. In February 2018, the BTC was retroactively reinstated for 2017, but was not reinstated for 2018. In December 2019, the BTC was retroactively reinstated for 2018 and 2019 and made effective from January 2020 through December 2022.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically,