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SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Generac Holdings, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of January 22, 2024 - (NYSE: GNRC)
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PR Newswire
NEW YORK, Nov. 28, 2023
NEW YORK, Nov. 28, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Generac Holdings, Inc..
Shareholders who purchased shares of GNRC during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD: May 3, 2023 to August 3, 2023
ALLEGATIONS: The complaint alleges that on August 2, 2023, the Company held its Q2 2023 earnings call. During that call, President and CEO Aaron P. Jagfeld revealed lackluster quarterly results, including a $1 billion sales decrease year-over-year and that residential sales decreased 44%. When explaining that decline, Jagfeld contradicted his May statements discounting macroeconomic trends. He said, "[the Company] underperformed our expectations as a result of the shift in consumer spending patterns," thus admitting the importance of inflation on consumer spending. Consequently, Jagfeld advised investors, "[t]his weaker than previously expected demand environment is expected to persist in the second half of the year, also contributing to our lower outlooked for residential product sales." Generac's share price dropped swiftly in the day after the earnings call. On August 1, 2023 shares closed to $153.38; by the close on August 3, 2023 shares plummeted to $110.77.
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DEADLINE: January 22, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/generac-loss-submission-form/?id=57289&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of GNRC during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is January 22, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm
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