GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF GENERAC HOLDINGS INC. (NYSE: GNRC)
Grabar Law Office is investigating potential claims on behalf of Generac Holdings Inc. (NYSE: GNRC) shareholders. The investigation concerns whether certain officers of Generac have breached their fiduciary duties owed to the company.
Generac Holdings Inc. is a diversified energy solutions company that provides an array of energy management technology as well as prime and backup power solutions. The Company manufactures, markets, and distributes a variety of products across North America and abroad.
The underlying class action complaint alleges that the company, through certain of its senior officers made numerous materially false and misleading statements and omissions concerning the safety and success of the Company’s clean power products, and the number of channel partners Generac relies on to sell, install, and service those products. Specifically, the Complaint alleges Defendants repeatedly touted to investors that “safety is paramount” and that the Company’s solar products went through “multiple rounds of design review” to “ensure that [they] meet all applicable internal engineering designs and safety standards . . . .” Defendants allegedly also falsely represented to investors that Generac had a broad and diverse network of channel partners, and claimed that no single such partner provided more than 6% of the Company’s sales. In addition, the Complaint alleges that Defendants overstated the Company’s earnings throughout the Class Period; specifically, that Defendants misrepresented or concealed the Company’s warranty liability, and falsely assured investors that the Company’s financial statements were prepared in accordance with Generally Accepted Accounting Principles.
Current Generac shareholders who have held Generac stock since before April 29, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.
If you would like to learn more about this matter, you are encouraged to contact us at firstname.lastname@example.org, or call Joshua Grabar at 267-507-6085.