Holley Securities Class Action Settlement ($12.75M)

Current Status

Claims are open. Holley Inc. and three of its executives agreed to pay $12,750,000 to resolve a securities-fraud class action covering purchases of Holley securities between July 21, 2021 and February 6, 2023, and the court-appointed administrator began accepting claims after the notice was issued on August 3, 2026. A claim form must be postmarked or submitted online no later than November 19, 2026. The court has scheduled a final approval hearing for November 9, 2026 at 9:30 a.m. Central Time; it has not yet approved the settlement, and no payment date has been announced. Investors who want to file need their brokerage confirmations or account statements, because documentation of every reported transaction is required.

What Changed Recently?

The settlement was signed on July 17, 2026, and the court authorized notice to the class, which the administrator dated August 3, 2026. That notice is what opened the claim window and set the three dates class members have to work with: November 19, 2026 to file, October 19, 2026 to exclude yourself or object, and November 9, 2026 for the hearing.

The case had been moving toward trial rather than settlement. According to the notice, the court denied the defendants' motion to dismiss on August 29, 2025, after which the parties exchanged more than 173,000 pages of documents, including subpoenas to four of Holley's distribution partners and eleven analyst firms that covered the company. The lead plaintiff moved for class certification in January 2026, and the defendants deposed its market-efficiency expert in April 2026. An in-person mediation on April 16, 2026 did not produce a deal, but the parties kept working with the mediator and told the court a week later that they had reached a settlement in principle.

Holley and the individual defendants deny the allegations and any liability or wrongdoing of any kind, and the settlement resolves the claims without any admission. The notice records that the parties still disagree on liability, on damages, and on whether the case could properly proceed as a class action at all.

Who Qualifies?

The class is everyone who purchased or otherwise acquired Holley Inc. securities between July 21, 2021 and February 6, 2023, inclusive, and was allegedly damaged as a result. "Securities" here means both Holley common stock and Holley warrants — the Plan of Allocation runs a separate calculation for each.

Holley took its current form partway through that period: it had been Empower Ltd., a special-purpose acquisition company, before the July 2021 business combination, which is why the case caption and the settlement documents refer to Holley Inc., f/k/a Empower Ltd. The class period opens days after that combination closed.

Excluded from the class are the defendants and their immediate family members; Holley's current and class-period officers, directors and affiliates, along with their legal representatives, heirs and assigns; any entity in which a defendant has or had a controlling interest; and the legal representatives, affiliates, heirs, successors-in-interest and assigns of any excluded party. Anyone who validly and timely asks to be excluded is also out of the class.

A few mechanics decide who actually files. The claim has to come from the beneficial owner, not from a brokerage or nominee listed as record owner. One claim form covers one legal entity, including all of that entity's accounts — so several brokerage accounts held by the same person go on a single form, while an IRA is a separate legal entity and needs its own. Joint owners file one form together with both names listed. Receiving a notice in the mail does not by itself establish class membership, and the notice says so.