Kaskela Law LLC is investigating Holley Inc. (NYSE: HLLY) on behalf of the company’s long-term shareholders.

Recently a securities fraud complaint was filed against Holley on behalf of certain investors who purchased shares of the company’s stock between July 21, 2021 and February 6, 2023 (the “Class Period”).  According to the complaint, during the Class Period Holley and certain of the company’s senior executive officers made a series of materially false and/or misleading statements to investors regarding Holley’s business, operations, and growth prospects.

The complaint further details how, despite prior representations and through a series of partial disclosures made between July 2022 and February 2023 – including disappointing quarterly financial and operational results, reduced financial guidance, and the resignation of the Company’s CFO and CEO – investors gradually learned that during the Class Period Holley had: (i) excluded its resellers and distribution partners from promotions that were offered in other channels, which resulted in them “not promoting [Holley] products” and “in some cases, even promoting [Holley’s] competitors’ products to preserve their margins”; and (ii) failed to enforce minimum advertised pricing on the vast majority of the products Holley sold.  In response to Defendants’ disclosures, shares of Holley’s common stock declined from a trading price of over $12.50 per share in July 2022 to a trading price of below $3.00 per share by Feb 2023.

The investigation seeks to determine whether the members of Holley’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.

Holley shareholders who purchased or acquired their HLLY shares prior to May 12, 2022 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by completing the form on this page, to receive additional information about this investigation and their legal rights and options.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 – 0750