NEW YORK, Jan. 19, 2024 /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:
https://securitiesclasslaw.com/securities/generac-loss-submission-form/?id=64020&from=4
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.
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=64020&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