BENSALEM, Pa .– (BUSINESS WIRE) – Howard G. Smith law firms, on behalf of investors in Renewable Energy Group, Inc. (“Renewable Energy” or the “Company”) (NASDAQ: REGI), are terminating an investigation into possible federal violations by the Company and its officers to securities laws.
On February 25, 2021, after the market closed, Renewable Energy released a press release announcing its fourth quarter and full year 2020 financial results. In it, the company announced that it would adjust “cumulative revenue of $ 38.2 million from January 2018 to September 30, 2020” because renewable energy is not the “right applicant for certain BTC” [biodiesel mixture excise tax credits] Payments for biodiesel sold between January 1, 2017 and September 30, 2020. “Renewable Energy said it has reached an agreement with the Internal Revenue Service on a valuation of $ 40.5 million without interest to correct these claims.
In this news, the company’s stock price fell as much as 9% during intraday trading on February 26, 2021.
If you have purchased renewable energy securities, have information or would like to learn more about these claims, or have any questions about this announcement or your rights or interests in relation to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by phone at (215) 638-4847, toll free at (888) 638-4847, or by email at [email protected] or visit our Website at www.howardsmithlaw.com.
This press release may be viewed as a solicitor’s advertisement in some jurisdictions under applicable laws and ethical rules.