LOS ANGELES, CA / ACCESSWIRE / January 4, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Holley Inc. f/k/a Empower Ltd. ("Holley" or "the Company") (NYSE:HLLY) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between July 21, 2021 and February 6, 2023, inclusive (the "Class Period"), are encouraged to contact the firm before January 5, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Holley's relationship with resellers and distributors suffered damage due to its extensive focus on its direct-to-consumer ("DTC") channel. The Company offered discounts to grow the DTC channel, further damaging its important relationships with distributors and resellers. These strained relationships resulting in lower orders, higher returns, and resellers ordering products from the Company's competitors. Growth in the Company's DTC channel could not offset the decreased revenues from its historically strong dealer network. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Holley, investor suffered damages.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm