HOLLEY ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Holley Inc.
New York, Nov. 12, 2023 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Holley Inc. (“Holley” or the “Company”) (NYSE: HLLY) in the United States District Court for the Western District of Kentucky on behalf of all shareholders who purchased Holley securities between March 1, 2021 and August 11, 2023 (the “Class Period”). This action seeks to recover damages against the Company and certain of its officers and directors.
What Is the Lawsuit About?
The lawsuit alleges that throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (1) Holley had overstated its distribution capabilities and execution efforts, which resulted in lost sales opportunities and decreased profitability; (2) Holley’s distribution and capacity constraints were far more significant than defendants had led investors to believe; (3) Holley’s increasing reliance on third-party distribution for its products made Holley’s operations vulnerable to disruptions in the supply chain; (4) the market had significantly underestimated the potential risks associated with Holley’s distribution capabilities, resulting in increased capital costs and undesirable impacts on the Company’s financial condition; (5) as a result of the foregoing, Holley would face increased costs, disruptions in its operations, loss of sales, and a decrease in profitability, adversely impacting its business, reputation, and results of operations; and (6) as a result, defendants’ statements about Holley’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
If you purchased Holley securities during the Class Period and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G
