Willkie Farr & Gallagher has achieved the dismissal of a securities class action lawsuit filed against Generac Holdings, Inc., along with its CEO and CFO, in the United States District Court for the Eastern District of Wisconsin. The case was related to a significant drop—nearly 25%—in Generac’s stock price.
Chief Judge Pamela Pepper granted the defendants’ motion to dismiss on February 3, 2026, ruling that the lead plaintiff’s amended complaint did not adequately allege that any defendant had made a material misstatement to investors with knowledge or reckless disregard for the truth. The judgment resulted in the dismissal of the entire case.
Generac is a Fortune 1000 company listed on the NYSE that produces backup power generation equipment and other energy products for residential, commercial, and industrial customers. In early 2020, demand for its home standby generators increased sharply following “shelter-in-place” orders during the COVID-19 pandemic.
On August 2, 2023, Generac reported lower-than-expected sales in its quarterly investor report and warned of continued weak demand through the rest of the year. Following this announcement, Generac’s stock price fell by more than $37 per share.
A shareholder subsequently filed a proposed securities class action lawsuit in November 2023 against Generac and its executives. The case was later transferred to the Eastern District of Wisconsin where an amended complaint was filed in April 2024. The complaint challenged multiple public statements from company leadership and alleged violations of federal securities laws, seeking damages tied to losses from the August 2 stock decline. Defendants moved to dismiss these claims in June 2024.
Securities litigation partner Glenn K. Vanzura led Willkie’s legal team and argued for dismissal before Chief Judge Pepper in early 2025. The court ultimately ruled in favor of Willkie’s clients, resulting in dismissal of all claims.
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