San Diego, CA -- (SBWIRE) -- 09/08/2022 -- An investigation was announced over potential breaches of fiduciary duties by certain directors at Generac Holdings Inc.

Investors who purchased shares of Generac Holdings Inc. (NYSE: GNRC) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Generac Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.

Waukesha, WI based Generac Holdings Inc. designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. Generac Holdings Inc. reported that its annual Total Revenue rose from over $2.2 billion in 2019 to over $2.48 billion in 2020, and that its Net Income increased from $253.26 million in 2019 to $349.32 million in 2020.

On June 22, 2022, Spruce Point Capital Management issued a short report on Generac Holdings Inc alleging multiple claims. Spruce Point stated, "Among other alarming findings, we find evidence to suggest a sham revenue transaction at Off Grid Energy, its recent UK acquisition acquired by Pramac's subsidiary. Even more concerning, we find evidence that to grow its residential solar business and compete against the likes of Tesla, Generac has engaged in a shady transaction with Sunnova, a company we previously profiled for its shoddy financial reporting, which we believe may have been designed to finance its own sales. Generac has also partnered with a large solar distributor named Powerhome (now Pink Energy) which multiple undercover investigations allege it has been misleading customers. Yet, Generac is still promoting the partnership, which we believe to be under FTC investigation."

Shares of Generac Holdings Inc. (NYSE: GNRC) declined from $299.85 per share on June 08, 2022, to $203 per share on June 22, 2022.

Those who purchased shares of Generac Holdings Inc. (NYSE: GNRC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.