Investigation Overview
According to a press release a law firm is currently on behalf Clean Energy Fuels Corp. (NASDAQ: CLNE) Investors investigating against Clean Energy Fuels Corp. (Nasdaq: CLNE) regarding potential violations of federal securities laws by allegedly issuing false and misleading statements.
According to the press release on October 29, 2008, where the shares of Clean Energy Fuels Corp. (NASDAQ: CLNE) lost over 20% of their value in a single trading day - - and almost 50% of their value compared to trading only days prior - - after the company lowered guidance below Wall Streets outlook, and announced that Clean Energy would be forced to raise at least $35 million in new capital through the dilutive issuance of stock and low cost warrants. The investigation focuses on, among other things, the timing of the sale of over $20 million in Company stock by a majority shareholder and Board member.