Invested in
Generac Holdings?
Contact investor lawyers for a free evaluation of your potential claims for compensation today.
- Did you invest in Generac Holdings Inc. (NYSE: GNRC) prior to April 2021?
- Are you concerned about the GNRC stock price decline following a lawsuit by one of Generac’s major customers alleging defects of Generac’s SnapRS component?
- Are you concerned about the allegations of false and misleading statements in a class action lawsuit filed against Generac Holdings and Generac’s officers?
- Would you like your potential options for compensation and/or redress to be reviewed by an experienced team of investor lawyers?
Request a free case evaluation of your potential claims for compensation today, via email at arosca@rscounsel.law, through the contact form on this page, or by calling 888-998-0530.
Contact Us About Your
Investments
Free Case Evaluation
The Generac Class Action Investigation page is the resource for investors who bought Generac Holdings shares and would like to evaluate compensation claims.
- Free Case Evaluation
- No Fees if No Recovery
- Contact Us Today
We can also do a Zoom call to discuss your matter.
Posted December 9, 2022
Generac Investigation
Securities attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner have been investigating alleged securities violations, corporate misconduct, and misrepresentations, as well as questionable business practices involving Generac Holdings, and have identified potential areas of concern.
What Generac Holdings Investors May Do
GNRC stock investors interested to evaluate potential options to seek compensation and/or pursue claims related to their Generac Holdings investment may contact investor rights attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner. Claims that are not timely pursued may expire or otherwise be lost, generally speaking.
Get in Touch with an Experienced Team of Investor Attorneys
Attorneys Rosca, Scarlato, and Weidner have extensive experience in seeking compensation related to investor harm and pursuing claims arising out of alleged violations of securities law and/or corporate misconduct and are currently evaluating potential claims on behalf of investors in Generac Holdings.
They typically work on a contingent fee basis, do not require any money down from their clients, advance case expenses, and only get paid for their fees and expenses if and when successful, following review and approval by the Court of any fee application.
Concerned GNRC stock investors may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to discuss their potential options toll free at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Potential Compensation Claims
Generac Class Action Lawsuit Over Investor Losses
Generac Holdings, Aaron Jagdfeld, Generac’s Chief Executive Officer, and York Ragen, Generac’ Chief Financial Officer, are named defendants in a class action complaint filed by a Generac investor alleging violations of securities laws
The class action complaint alleges, among others, materially false and misleading statements concerning the safety and reliability of Generac’s solar power products core component called the “SnapRS”.
Additionally, the Generac class action alleges that the company misled investors about its dependency on one of its “channel partners” called Power Home Solar, LLC d/b/a Pink Energy (“Pink Energy”).
Furthermore, Generac Holdings allegedly misrepresented its financial condition and overstated its earning by failing to account for claims arising out of warranty liability, the complaint states.
Generac Price Per Share Drops Following News of Customer Lawsuit
According to the class action complaint, Generac customers were reportedly made aware of the defective SnapRS on August 1, 2022, when Pink Energy filed a lawsuit against Generac Power Systems, Inc. in the United States District Court for the Western District of Virginia.
The lawsuit alleges violations of the Magnuson-Moss Warranty Act, breach of implied covenant of good faith and fair dealing, promissory estoppel, breach of contract, negligence, breach of express warranty, and fraudulent inducement, among others. Following the disclosures in the lawsuit, the price for GNRC stock reportedly declined $3.31 per share.
Moreover, the Generac class action complaint alleges that the liability created by the defective SnapRS components led to Pink Energy declaring bankruptcy on October 1, 2022.
Following the Pink Energy bankruptcy announcement, Generac reportedly disclosed it had taken $55 million in pre-tax charges comprised of “$37million of clean energy product warranty-related matter and approximately $18 million of bad debt expense related to a clean energy product customer that has filed for bankruptcy”, the class action complaint alleges. Following the news, the price of Generac shares reportedly declined 25%.
Finally, in November 2022, the Generac investors learned that the company lowered its sales guidance on the solar energy business for the remainder of the year by 40% due to “the loss of a major customer during the quarter, along with the specific warranty-related issue”, the complaint alleges. The disclosure allegedly caused the price per GNRC share to decline by 8%.
As a result, the Generac Holdings class action plaintiff sought compensatory damages plus interest, as well as costs, including counsel and expert fees. The class action is currently pending.
Invested in Generac Holdings and Would Like to Know if You Have a Claim for Compensation?
Investor rights attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner at Rosca Scarlato are investigating potential options and are evaluating potential claims for compensation on behalf of GNRC shareholders. They have decades of combined experience representing victims of corporate or financial misconduct.
If you are a Generac investor concerned about your investment and/or its value, you may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to learn more about your rights and for an evaluation of your potential claims, or to provide useful information.
All consultations are free. The Rosca Scarlato attorneys typically take cases like this on a contingency fee basis, advance all case costs, and only get paid for their fees and expenses if and when they are successful, following review and approval by the Court of any fee application.
To reach attorney Alan Rosca or his colleagues, Generac investors may call 888-998-0530, email arosca@rscounsel.law, or leave a message through the contact form on this webpage.
The general considerations on this page are for informational purposes only and do not constitute legal advice. Such legal advice can only be offered once the attorneys discuss each investor’s situation, learn of the relevant facts and can tailor any advice to that investor’s facts. The Generac Class Action Investigation page is not affiliated with Generac Holdings.
Contact info:
Rosca Scarlato LLC – 216-946-7070 / 888-998-0530.
Alan Rosca – arosca@rscounsel.law
Paul Scarlato – pscarlato@rscounsel.law
Kathryn Weidner – kweidner@rscounsel.law
Recent Investigations
- Posted on
- Posted on
DISCLAIMER
In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.