San Diego, CA -- (SBWIRE) -- 03/19/2021 -- An investor, who purchased NASDAQ: REGI shares, filed a lawsuit against Renewable Energy Group, Inc. over alleged violations of Federal Securities Laws.

Investors who purchased shares of Renewable Energy Group, Inc. (NASDAQ: REGI) have certain options and for certain investors are short and strict deadlines running. Deadline: May 03, 2021. NASDAQ: REGI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On February 25, 2021, after the market closed, Renewable Energy Group, Inc. announced its fourth quarter and full year 2020 financial results. Therein, the Company revealed that it would restate "$38.2 million in cumulative revenue from January 2018 through September 30, 2020" because Renewable Energy was not the "proper claimant for certain BTC [biodiesel mixture excise tax credits] payments on biodiesel it sold between January 1, 2017 and September 30, 2020." Renewable Energy further stated that it had reached an agreement with the Internal Revenue Service "on a $40.5 million assessment, excluding interest" to correct these claims.

Shares of Renewable Energy Group, Inc. (NASDAQ: REGI) declined from $117.00 per share on February 10, 2021, to $76.40 per share on February 26, 2021.

The plaintiff claims that between May 3, 2018 and February 25, 2021, the Defendants failed to disclose to investors that due to failures in the diesel additive system, petroleum diesel was not periodically added to certain loads by the Company and was instead added by the Company's customers, that, as a result, Renewable Energy was not the proper claimant for certain BTC payments on biodiesel it sold between January 1, 2017 and September 30, 2020, that, as a result, Renewable Energy's revenue and net income were overstated for certain periods, that there was a material weakness in the Company's internal control over financial reporting related to the purchase and use of the petroleum diesel gallons when blending with biodiesel, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Renewable Energy Group, Inc. (NASDAQ: REGI) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.