HLLY - Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Holley Inc. (HLLY) | Benzinga

LOS ANGELES, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming January 5, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Holley Inc. ("Holley" or the "Company") (NYSE:HLLY) securities between July 21, 2021 and February 6, 2023,, inclusive (the "Class Period").

If you suffered a loss on your Holley investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Holley-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On July 28, 2022, Holley announced its preliminary second quarter 2022 financial results, disclosing that sales had dropped 7% and adjusted profits had fallen by 31%. The Company also revised its full year 2022 outlook, reducing sales expectations by 8.4% and adjusted earnings by 26%. On this news, Holley's stock price fell $4.68, or 36.9%, to close at $7.99 per share on July 29, 2022, thereby injuring investors.

Then, on August 11, 2022, Holley announced that its CFO had resigned to "pursue another opportunity and for personal reasons."

Then, on November 14, 2022, the Company reported disappointing financial results for the third quarter 2022, with a 3% decline in net sales, a 25.8% decrease in gross profits, and over 50% less in earnings compared to the ...

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