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Generac Hid Knowledge of Solar System Part Defect, Suit Says (1)

Jan. 23, 2023, 10:03 PMUpdated: Jan. 24, 2023, 4:32 PM

Generac Holdings Inc. concealed important business metrics from investors, including the health of its legacy generator offerings and a component defect in a solar energy system, an investor says in a proposed class action.

The investor, the California Ironworkers Field Pension Trust, says Generac moved into the solar power and storage business to offset rivals’ bites out of its generator sales. But that move depended on a partner that eventually faced bankruptcy.

The pension fund filed its suit Jan. 20 in the US District Court for the Eastern District of Wisconsin.

The solar part’s defect exposed Generac to significant liability, ...