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    GENERAC DEADLINE ALERT  121  0 Kommentare Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Generac Holdings, Inc. and Encourages Investors to Contact the Firm

    Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Generac Holdings, Inc. (“Generac” or the “Company”) (NYSE: GNRC) in the United States District Court of Eastern Wisconsin on behalf of all persons and entities who purchased or otherwise acquired Generac securities between April 29, 2021, and November 1, 2022, both dates inclusive (the “Class Period”). Investors have until January 31, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

    Click here to participate in the action.

    This action arises from repeated misrepresentations by Generac and its senior executives that concealed from investors a defective component at the core of Generac’s solar power products. That component—the “SnapRS”—was intended to perform an essential safety function by rapidly shutting down solar devices in certain dangerous situations. Rather than protecting consumers, the SnapRS would overheat, melt and, in some cases, start fires.

    Defendants knew that the versions of the SnapRS installed in thousands of homes were defective and dangerous. Numerous consumers filed complaints with regulators, and Generac’s business partners that sold, installed, and serviced Generac’s solar products informed the Company of the SnapRS defect.

    Instead of warning investors and consumers, Defendants continued to tout the success and reliability of Generac’s solar energy products while quietly making minor modifications to the SnapRS, including issuing a firmware update. After these modifications failed to fix the SnapRS, Defendants continued to mislead investors.

    Generac relied on “channel partners” to sell, service, and install its solar battery storage systems, including Power Home Solar, LLC d/b/a Pink Energy (“Pink Energy”), Baker Electric Home Energy, Posigen, and Valley Solar. During the Class Period, Pink Energy was the largest of these partners, with operations in 15 states. Among other deceptions, Generac misled investors about its dependence on Pink Energy, falsely assuring investors that no single customer or partner drove more than 6% of its sales and that Generac had a broad and diverse network of distribution partners.

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    GENERAC DEADLINE ALERT Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Generac Holdings, Inc. and Encourages Investors to Contact the Firm Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Generac Holdings, Inc. (“Generac” or the “Company”) (NYSE: GNRC) in the United States District …