Vertex Energy, Inc.

USDC – Southern District of Alabama

March 21, 2023

Class Period: 4/1/2022 – 8/8/2022
Lead Plaintiff Deadline: 5/2/2023

Principle Contacts

Pamela Mayer

PMayer@kaplanfox.com

NEW YORK, NY – March 21, 2023 – Kaplan Fox & Kilsheimer, LLP reminds investors that a complaint has been filed on behalf of investors who purchased or otherwise acquired the securities of Vertex Energy,  Inc. (“Vertex” or the “Company”) (NASDAQ: VTNR) between April 1, 2022 and August 8, 2022, inclusive (the “Class Period”).

If you acquired Vertex securities during the Class Period and would like to discuss this case, please click here.  Or, you may contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003.

If you are a member of the proposed Class, you may move the court no later than May 2, 2023 to serve as a lead plaintiff for the purported class.  If you have losses, we encourage you to contact us to learn more about the lead plaintiff process. 

On April 1, 2022, the start of the Class Period, Vertex completed the purchase of an oil refinery located in Mobile, Alabama.

On August 9, 2022, before the market opened, Vertex filed with the SEC a Form 8-K that included its second quarter 2022 earnings release and held an earnings conference call.  According to the complaint, in the earnings release and on the call, Vertex disclosed massive losses incurred at its Mobile refinery during the second quarter of 2022.  Vertex also announced a net loss for the Company of $63.8 million and withdrew its financial guidance for the remainder of fiscal year 2022 and fiscal year 2023.

On this news, the price of Vertex common stock declined by $6.18 per share, or 44%, on August 9, 2022, on high trading volume.  

WHY CONTACT KAPLAN FOX – Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey.  With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand.  Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.  For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. 

If you have any questions about this Notice, your rights, or your interests, please contact: 

Pamela Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com