An investigation for investors in Generac Holdings Inc. (NYSE:GNRC) shares over potential securities laws violations by Generac Holdings Inc. was announced.
San Diego, CA -- (SBWIRE) -- 07/06/2022 -- Generac Holdings Inc is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Generac Holdings Inc. (NYSE: GNRC), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Generac Holdings Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Waukesha, WI based Generac Holdings Inc. designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide.
On June 22, 2022, Spruce Point Capital Management issued a short report on Generac Holdings Inc alleging multiple claims. Spruce Point stated, "Among other alarming findings, we find evidence to suggest a sham revenue transaction at Off Grid Energy, its recent UK acquisition acquired by Pramac's subsidiary. Even more concerning, we find evidence that to grow its residential solar business and compete against the likes of Tesla, Generac has engaged in a shady transaction with Sunnova, a company we previously profiled for its shoddy financial reporting, which we believe may have been designed to finance its own sales. Generac has also partnered with a large solar distributor named Powerhome (now Pink Energy) which multiple undercover investigations allege it has been misleading customers. Yet, Generac is still promoting the partnership, which we believe to be under FTC investigation."
Shares of Generac Holdings Inc. (NYSE: GNRC) declined from $299.85 per share on June 08, 2022, to $203 per share on June 22, 2022.
Those who purchased shares of Generac Holdings Inc. (NYSE: GNRC) have certain options and should contact the Shareholders Foundation.
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