NEW YORK, May 12, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Vertex Energy, Inc. (“Vertex” or the “Company”) VTNR. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

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

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On August 9, 2022, Vertex announced its second quarter 2022 results and held a earnings conference call for analysts and investors. In the earnings call and conference call, Vertex said the company suffered massive losses in the second quarter of 2022 at its Mobile, Alabama oil refinery and announced a net loss for the company of $63.8 million. Vertex also announced that adjusted EBITDA for the Mobile Refinery, even after accounting for certain incurred losses, was only $63.6 million, compared to an EBITDA guidance of $120-130 million just three months earlier -dollars in the second quarter, accounting for an overall lag 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.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Pomerantz was founded by the late Abraham L. Pomerantz, Dean of the Class Bar Association, and pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The company has recovered billions of dollars in damages on behalf of class members. See