A lawsuit was filed on behalf of investors in Generac Holdings Inc. (NYSE:GNRC) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/10/2021 -- An investor, who purchased NYSE: GNRC shares, filed a lawsuit against Generac Holdings Inc over alleged violations of Federal Securities Laws.
Investors who purchased shares of Generac Holdings Inc. (NYSE: GNRC) have certain options and for certain investors are short and strict deadlines running. Deadline: October 19, 2021. NYSE: GNRC investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
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 July 29, 2021, Generac Holdings Inc recalled several generators models after multiple reports of fingers being injured in the machines, according to the Consumer Product Safety Commission (CPSC). According to the CPSC, Generac has received eight injury reports, resulting in seven fingers amputations and one finger being crushed. The generators were sold at major home improvement and hardware stores nationwide and online from June 2013 through June 2021. Shares of Generac Holdings Inc. (NYSE: GNRC) declined from $457 per share on July 26, 2021, to $396.20 per share on August 2, 2021.
The plaintiff claims that between February 23, 2021 and July 29, 2021, the defendants made false and/or misleading statements and/or failed to disclose that Generac's portable generators posed an unreasonable risk of injury to users and the public, that as a result, at least seven finger amputations and one crushed finger had been reported to the Company, that as a result, Generac would face increased regulatory scrutiny, that the Company would end sales in its Generac® and DR® 6500 Watt and 8000 Watt portable generators in the United States and Canada in June 2021, that the Company would recall its Generac® and DR® 6500 Watt and 8000 Watt portable generators in the United States and Canada, that the end of sales and the recall would occur before the hurricane and wildfire seasons and following the Texas outage—periods the Company has touted for sales, and that as a result, defendants' public statements and statements to journalists were materially false and/or misleading at all relevant times.
Those who purchased shares of Generac Holdings Inc. (NYSE: GNRC) have certain options and should contact the Shareholders Foundation.
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