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HLLY.US
id: 866

Holley Inc. (HLLY) Sales Strategy Case

W.D. Kentucky
Court
1:23-cv-00148
Case number
21 Jul 2021
Class period Start
06 Feb 2023
Class period End
05 Jan 2024
Lead Plaintiff motion deadline
  • Holley is accused of making false statements about its financial strength, merger success, and direct-to-consumer sales, which led to lower sales and profits and damaged relationships with resellers.
  • On February 6, 2023, the truth came out, leading to a 30% $HLLY fall the next day.
This lawsuit claimed that Holley told investors that the company was ready to handle an economic downturn because of strong demand from car enthusiasts and successful growth through mergers and acquisitions.

They also said Holley's direct-to-consumer sales would bring in big profits without needing resellers.

But in reality, Holley couldn't merge its acquisitions well, lost out on cost savings, and hurt its relationships with resellers.

These news caused $HLLY fall by 30% and $124.28M loss of market cap, damaging shareholders.

Given all the information, investors have reasons to suspect that Holley misled about its readiness for economic challenges and the benefits of mergers, and also about it sales strategy success.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07 February 2023
Filing date
06 November 2023
Lead Plaintiff Deadline
05 January 2024
Judge
Greg N Stivers
Collecting participants…

Holley Inc

Holley Inc. operates as designer, marketer, and manufacturer of automotive aftermarket products for car and truck enthusiasts. Its products span various automotive platforms and sells across multip...

    Ticker
    HLLY.US
    ISIN
    US43538H1032
    CIK
    1822928
    Sector
    Consumer Cyclical
    Industry
    Auto Parts
    Country
    USA
    Address
    1801 Russellville Road, Bowling Green, KY, United States, 42101