Recent Security Class Actions

Vertex Energy Inc Common Stock (NASDAQ: VTNR)

Company Name:Vertex Energy Inc Common Stock
Stock Symbol:NASDAQ: VTNR
Class Period Start:04/01/2022
Class Period End (inclusive):08/08/2022
Filing Deadline:06/12/2023

Vertex and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On August 9, 2022, pre-market, the Company disclosed massive 2Q2022 losses incurred at its Mobile refinery, a net loss of $63.8 million, and that adjusted EBITDA for the Mobile refinery, even after adjusting for certain incurred losses, was only $63.6 million, compared to the prior guidance of $120-$130 million in the second quarter, a total shortfall of 50%. On this news, shares of Vertex fell by 44% or $6.18 per share.