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REII.US
id: 1360

Renewable Innovations (REII) Delisting Case

The case has been dismissed, typically without any further action.
D. Utah
Court
2:24-cv-00716​
Case number
12/01/2022
Class period Start
09/14/2023
Class period End
11/26/2024
Lead Plaintiff motion deadline

  • $REII stockholders filed a claim against Renewable Innovations for issues with hiring an inexperienced accounting firm and failure to comply with SEC filings.

  • On September 14, 2023, Renewable Innovations was delisted from the OTC market.

  • $REII investors can join this case to be notified about potential recovery.

Case Details:

On November 2, 2023, Renewable Innovations revealed that its financial statements for the quarter ending February 28, 2023, contained errors and could no longer be relied upon.

On this news, $REII fell by 46%.

Ultimately, Renewable Innovations was delisted, leaving shareholders unable to trade their stock and rendering their investments worthless.

Based on these events, $REII investors filed a claim against Renewable Innovations, accusing the company of:

  • The company misled investors about its financial compliance and failed to provide necessary financial disclosures.

  • It neglected to inform shareholders about the risks of delisting.

Considering these actions, investors believe Renewable Innovations concealed its failure to meet SEC filing requirements, provided poor financial disclosures, and hired an unqualified accounting firm.

Case Type
US Securities Class Action
Case Status
Dismissed
Alleged Offence
Mismanagement, 
Misleading Statements, 
Failure to Disclose, 
Breach of Fiduciary duty
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09/14/2023
Filing date
09/27/2024
Lead Plaintiff Deadline
11/26/2024
Judge
Daphne A. Oberg