NEW YORK–(BUSINESS WIRE)–#A–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Vertex Energy, Inc. (“Vertex” or the “Company”) (NASDAQ: VTNR) in the United States District Court Of The Southern District Of Alabama on behalf of all persons and entities who purchased or otherwise acquired Vertex securities between April 1, 2022 and August 8, 2022, both dates inclusive (the “Class Period”). Investors have until May 2, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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According to the Complaint, the Company made false and misleading statements to the market. Vertex announced it would acquire an oil refinery in Mobile, Alabama, with the plan to partially convert it for the production of renewable diesel fuel, which it claimed would improve profitability. The Company were involved in transactions, including the financing arrangement to purchase the refinery, that would lead to significant losses after the acquisition. In fact, these transactions caused the Company to lose $125 million in loses during the class period. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Vertex Energy, investors suffered damages.
If you purchased or otherwise acquired Vertex shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.