Generac Holdings Inc. Investors with Substantial Losses Have Opportunity to Lead the Generac Class Action Lawsuit – GNRC
SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP announces that purchasers of Generac Holdings Inc. (NYSE: GNRC) securities between February 23, 2021 and July 29, 2021, inclusive (the “Class Period”) have until October 19, 2021 to seek appointment as lead plaintiff in the Generac class action lawsuit. The Generac class action lawsuit charges Generac and certain of its top executives with violations of the Securities Exchange Act of 1934. The Generac class action lawsuit – captioned Khami v. Generac Holdings Inc., No. 21-cv-06777 – was commenced on August 20, 2021 in the Central District of California and is assigned to Judge Stephen V. Wilson. A similar lawsuit, Procter v. Generac Holdings Inc., No. 21-cv- 07009, is also pending in the Central District of California.
If you wish to serve as lead plaintiff of the Generac class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. Lead plaintiff motions for the Generac class action lawsuit must be filed with the court no later than October 19, 2021.
CASE ALLEGATIONS: The Generac class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Generac’s portable generators posed an unreasonable risk of injury to users and the public; (ii) as a result, at least seven finger amputations and one crushed finger had been reported to Generac; (iii) thus, Generac would face increased regulatory scrutiny; (iv) Generac would end sales in its Generac® and DR® 6500 Watt and 8000 Watt portable generators in the United States and Canada in June 2021; (v) Generac would recall its Generac® and DR® 6500 Watt and 8000 Watt portable generators in the United States and Canada; (vi) the end of sales and the recall would occur before Generac’s noted hurricane and wildfire seasons and following the Texas outage – periods Generac has touted for sales; and (vii) consequently, defendants’ public statements and statements to journalists were materially false and/or misleading at all relevant times.
On July 29, 2021, the United States Consumer Product Safety Commission, Health Canada, and the Organisation for Economic Co-operation and Development announced the Generac portable generator recall, revealing that Generac had received reports of seven finger amputations and one finger crushing. On this news, Generac’s stock price fell approximately 7%, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Generac securities during the Class Period to seek appointment as lead plaintiff in the Generac class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Generac class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Generac class action lawsuit. An investor’s ability to share in any potential future recovery of the Generac class action lawsuit is not dependent upon serving as lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions. Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors last year, more than double the amount recovered by any other securities plaintiffs’ firm. Please visit http://www.rgrdlaw.com for more information.
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Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
[email protected]
KEYWORDS: California United States North America
INDUSTRY KEYWORDS: Legal Professional Services
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