GENERAC HOLDINGS SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Generac Holdings Inc. - GNRC
NEW ORLEANS, Dec. 9, 2022
NEW ORLEANS, Dec. 9, 2022 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 30, 2023 to file lead plaintiff applications in a securities class action lawsuit against Generac Holdings Inc. (NYSE: GNRC), if they purchased the Company's shares between April 29, 2021 and November 1, 2022, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of Wisconsin.
If you purchased shares of Generac and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-gnrc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 30, 2023.
Generac and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 19, 2022, the Company released dismal preliminary financial results for 3Q2022 including a $55 million pre-tax charge relating to its clean energy product warranties and expenses, due to a distributor that had filed for bankruptcy. On this news, shares of Generac fell by $37.44 per share, or 25%. Then on November 2, 2022, the Company released its third quarter earnings and significantly lowered full-year guidance on sales by its solar energy business of approximately 40% due to the loss of a major customer and $37.3 million worth of clean energy product warranty-related issues. On this news, shares of Generac fell an additional $8.99 per share, or 8%.
The case is County Voluntary Employees' Beneficiary Association and Oakland County Employees' Retirement System v. Generac Holdings Inc., No. 22-cv-1436.
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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