Generac Shareholder Alert | 2021-09-08 | Press Releases
James (Josh) Wilson, Securities Litigation Partner, encourages investors who have suffered losses greater than $ 50,000 at Generac to contact him directly to discuss their options
New York, New York – (Newsfile Corp. – September 8, 2021) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Generac Holdings Inc. (“Generac” or the “Company”) (NYSE: GNRC) and reminds investors of the October 19, 2021 deadline to apply as lead plaintiff in a federal securities class action lawsuit that has been filed against the Company.
If you suffered losses greater than $ 50,000 while investing in shares or options of Generac between February 23, 2021 and July 29, 2021 and want to discuss your legal rights, call partner Faruqi & Faruqi Josh Wilson directly To 877-247-4292 Where 212-983-9330 (ext. 1310). You can also click here for more information: www.faruqilaw.com/GNRC.
There is no cost or obligation for you.
Faruqi & Faruqi is a leading national minority and women-owned securities law firm, with offices in New York, Delaware, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its officers violated federal securities laws by making false and / or misleading statements and / or failing to disclose that: (1 ) Generac’s portable generators presented an unreasonable risk of injury to users and the public; (2) as a result, at least seven finger amputations and one crushed finger were reported to the Company; (3) as a result, Generac would face increased regulatory oversight; (4) the Company would end sales of its Generac® and DR® 6,500-watt and 8,000-watt portable generator sets in the United States and Canada in June 2021; (5) the Company would recall its Generac® and DR® 6,500-watt and 8,000-watt portable generators in the United States and Canada; (6) the end of sales and recall would occur before the hurricane and wildfire seasons noted by the Company and after the Texas shutdowns that the Company announced for sales; and (7) as a result, the defendants’ public statements and statements to journalists were materially false and / or misleading at all relevant times. When the real details entered the market, the lawsuit claims that investors have suffered damage.
On July 29, 2021, the United States Consumer Product Safety Commission (CPSC), Health Canada and the Organization for Economic Co-operation and Development (OECD) announced the recall of Generac portable generators, revealing that the company had received reports of seven finger amputations and crushed one finger.
On this news, the Generac share price fell $ 31.04 per share, or 7%, from its closing price on July 28, 2021 over the next three trading days to close at 400.00. $ per share on August 2, 2021, hurting investors.
The principal plaintiff appointed by the court is the investor with the greatest financial interest in the remedy sought by the group, who is adequate and typical of the members of the group who are directing and supervising the litigation on behalf of the putative group. Any putative class member can propose to the court to serve as lead plaintiff through any lawyer they choose, or they can choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as the principal applicant.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Generac’s conduct to contact the company, including whistleblowers, former employees, shareholders, and others.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95931