SHAREHOLDER ALERT: The Law Offices of Vincent Wong Remind Generac Investors of a Lead Plaintiff Deadline of January 22, 2024
NEW YORK, Jan. 11, 2024 /PRNewswire/ -- Attention Generac Holdings, Inc. ("Generac") (NYSE: GNRC) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between May 3, 2023 and August 3, 2023.
If you suffered a loss on your investment in Generac, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/generac-class-action-submission-form/?prid=63090&wire=4
ABOUT THE ACTION: 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
Aggrieved Generac investors only have until January 22, 2024 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: [email protected]
SOURCE The Law Offices of Vincent Wong
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