NEW YORK, April 8, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Vertex Energy, Inc. (“Vertex” or the “Company”) VTNR. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Vertex and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On August 9, 2022, Vertex reported its second quarter 2022 results and held a earnings conference call for analysts and investors. In the earnings call and conference call, Vertex said it suffered massive losses at its Mobile, Alabama, oil refinery in the second quarter of 2022 and announced a net loss for the company of $63.8 million. Vertex also announced that Adjusted EBITDA for the Mobile Refinery, even after adjusting for certain incurred losses, was only $63.6 million, compared to guidance provided just three months earlier for EBITDA of between $120 million and $130 million -dollars in the second quarter, resulting in an overall shortfall of 50%. Vertex also withdrew its financial guidance for the remainder of fiscal 2022 and fiscal 2023.

As a result of this news, Vertex’s stock price fell $6.18 per share, or 44.21%, to close at $7.80 per share on August 9, 2022.

The Pomerantz law firm, with offices in New York, Chicago, Los Angeles, London and Paris, is recognized as one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as Dean of the Class Attorney’s Association, the Pomerantz firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz law firm continues the tradition he established and fights for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm has recovered numerous multi-million dollar damages claims on behalf of the class…