Skip to Content

Generac Holdings Inc.

Company NameGenerac Holdings Inc.
Stock SymbolGNRC
Class PeriodApril 29, 2021 to November 01, 2022
Lead Plaintiff Motion DeadlineJanuary 30, 2023

On August 1, 2022, one of Generac’s channel partners, Pink Energy, filed a lawsuit against Generac, claiming that the component at the core of the Company’s solar power products, SnapRS, was defective and had caused millions of dollars of damage.

On this news, Generac’s stock price fell $3.31, or 1.23%, to close at $264.99 per share on August 1, 2022.

On October 7, 2022, Pink Energy declared bankruptcy.

Then, on October 19, 2022, Generac disclosed that it had taken “pre-tax charges totaling approximately $55 million, including approximately $37 million 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.”

On this news, Generac’s stock price fell $37.44, or 25.3%, to close at $110.30 per share on October 19, 2022, thereby injuring investors.

 Then, on November 2, 2022, Generac released its third quarter 2022 financial results, lowering sales guidance on its solar energy business for the remainder of the year by approximately 40%. The Company’s CEO attributed the lowered guidance to “the loss of a major customer during the quarter, along with the specific warranty-related issue.”

 On this news, Generac’s stock price fell $8.99, or 7.8%, to close at $105.71 per share, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the full scope of the economic harm flowing from the defective SnapRS units; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Submit Your Information

If you suffered a loss on your Generac Holdings Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

Shares Purchased

Number of SharesBuy DatePrice Per ShareAdd

Shares Sold

Number of SharesSell DatePrice Per ShareAdd