Holley Inc. and two former executives of the automotive parts company, formerly known as Empower Ltd., allegedly misled investors about its growth and consumer demand between 2021 and 2023, according to a shareholder class action complaint.
The alleged misrepresentations began shortly after Empower’s special purpose acquisition company merger in July 2021 and renaming of the combined company to Holley Inc., when disclosures touted that the company was prepared to weather an economic downturn because of demand and organic sales growth going forward, according to the complaint filed Monday in the US District Court for the Western District of Kentucky.
The ...
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