NEW YORK, April 23, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Clean Energy Fuels Corp. (“Clean Energy” or the “Company”) (NASDAQ: CLNE) Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Clean Energy and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 20, 2021, Raymond James analyst Pavel Molchanov downgraded Clean Energy’s stock to underperform, opining that investors had been “carried away by headlines over substance.” Responding to news of the Company’s entry into a fuel supply agreement with Amazon.com, Inc., Molchanov described the stock’s gain on the news as reflecting “sentiment-driven multiple expansion with minimal read-through for profitability” and noted that the supply agreement was for only 46 of Clean Energy’s 565 stations.
On this news, Clean Energy’s stock price fell $2.49 per share, or 21.03%, to close at $9.35 per share on April 20, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP