HOLLEY INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Holley Inc. - HLLY
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Holley Inc. f/k/a Empower Ltd. (NYSE: HLLY).
On July 16, 2021, Empower completed a business combination with Holley Intermediate Holdings, Inc., a privately held company, resulting in the combined company named “Holley Inc.” (the “Company”) that designs, manufactures, and distributes performance automotive products to customers primarily in the United States, Canada, and Europe. In February 2023, the Company disclosed the latest in a series of disappointing financial results, this time for its preliminary fourth quarter 2022 and full year 2022, including sales and EBITDA well below market estimates, and also that its CEO and President was retiring, effective immediately, and also resigning from the Company’s Board of Directors.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether Holley’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Holley shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit us at https://www.ksfcounsel.com/cases/nyse-hlly/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit ksfcounsel.com.
