Vertex Energy, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
Vertex released its Q2 2022 financial results, reporting a net loss of $63.8 million and an adjusted EBITDA that was 50% less than the previous quarter’s guidance. The company also withdrew its financial guidance for the remainder of fiscal years 2022 and 2023, leading to a 44.2% drop in the company’s stock price. The class action lawsuit alleges that Vertex’s management made false and misleading statements and omitted adverse information about the company’s business operations and prospects. The lawsuit claims that the company’s management entered into several hedging derivatives, inventory purchase and intermediation agreements, and inventory production issues that severely affected Vertex’s financial position, leading to significant losses in Q2 2022. The lawsuit alleges that Vertex’s management made positive statements about the company’s business prospects that were materially misleading and lacked a reasonable basis.
