NEW YORK–(BUSINESS WIRE)–#Action–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Generac Holdings, Inc. (“Generac” or the “Company”) (NYSE: GNRC) on behalf of Generac stockholders. Our investigation concerns whether Generac has violated the federal securities laws and/or engaged in other unlawful business practices.
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On June 22, 2022, Spruce Point Capital Management issued a short report on Generac 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.”
On this news, Generac stock fell sharply by $7.23, or 3.3%, during intraday trading, to close at $212.57.
If you purchased or otherwise acquired Generac shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.