Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, March 17, 2023 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Vertex Energy, Inc. (“Vertex” or the “Company”) (NASDAQ: VTNR) investors that a lawsuit filed on behalf of investors that purchased Vertex securities (NASDAQ: VTNR) between April 1, 2022 and August 8, 2022, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
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.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
[email protected]
310-692-8883
www.portnoylaw.com
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