Published
September 16, 2026
Investors who bought or otherwise acquired Holley Inc. (NYSE: HLLY) common stock or warrants between July 21, 2021 and February 6, 2023 may qualify to claim a pro rata share of a $12,750,000 Holley securities class action settlement. Claims close November 19, 2026, and the final approval hearing is set for November 9, 2026.
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.Free settlement alerts
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Status
Claims Open
Claim Deadline
November 19, 2026
Postmarked if mailed · received if filed online
Estimated Payout
About $0.16 per share
Estimate only · average for common stock before fees and expenses · pro rata by Recognized Loss · nothing paid below $10
Proof Required
Yes
Brokerage confirmations or account statements for every reported transaction and holding
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.
How Much Can You Get?
The lead plaintiff estimates that the average distribution works out to roughly $0.16 per share of common stock before taxes, notice and administration expenses, and any court-awarded attorneys' fees and expenses. If the court awards the fees and expenses being requested, the notice estimates the cost at about $0.04 per share. Both figures are estimates in the notice's own words, and an individual class member may receive more or less. The actual recovery is a pro rata share: your Recognized Loss divided by the total Recognized Loss of everyone whose claim is accepted, applied to the part of the net fund attributable to your type of Holley security.The formula turns on when you bought and how long you held. The Plan of Allocation assigns an artificial inflation figure to each day in the class period — for common stock, $8.18 per share for purchases from July 21, 2021 through July 28, 2022, then $3.18, $1.83, $1.27 and $0.20 as the alleged inflation came out of the price, reaching $0.00 from February 8, 2023 onward. The warrant table follows the same shape at $2.42, $1.25, $0.61, $0.30 and $0.07.
Three limits matter more than the inflation numbers themselves:
- Securities bought and sold before July 29, 2022 have a claim of $0.00. The first alleged corrective disclosure in the Plan of Allocation falls on that date, so a position closed entirely before it produces no Recognized Loss regardless of the trading loss.
- Anything still held after February 7, 2023 is measured against the statutory 90-day look-back. The mean closing price over that window was $2.36 for common stock and $0.32 for warrants, and a claim cannot exceed the difference between the purchase price and that figure.
- Warrants are capped as a group at 5% of the Net Settlement Fund. If the recognized losses calculated on warrants exceed that share, every warrant figure is reduced proportionally until the warrant total equals 5%. Only if all stock-based claims are paid in full does any excess flow back to warrant claims.
Two further rules trim the edges. A claimant whose overall market loss across all Holley securities during the class period is smaller than the calculated Recognized Claim is limited to that actual market loss, and a claimant with an overall net gain is not eligible at all. And no distribution is made where the prorated payment calculates to less than $10.00.
Out of the $12,750,000, lead counsel will ask the court for attorneys' fees of up to 25% of the settlement amount plus expenses not to exceed $300,000, with interest on both, and the lead plaintiff may seek an award of up to $10,000 for its work representing the class. Whatever the court approves comes out of the fund before distributions are calculated.
What Proof or Notice ID Is Required?
Documentation is required, and there is no no-proof tier. Every transaction listed on the claim form must be supported by copies of brokerage confirmation slips, brokerage account statements, or an authorized statement from your broker containing the same transactional and holding information. The notice is explicit that neither the parties nor the administrator has independent records of your investments, and that failure to supply the documentation may result in rejection of the claim. The administrator may also request additional information or documentation at any time.There is no administrator-issued Claim ID or PIN gating the online form — what gates it is your own broker paperwork. If the documents are not in your possession, the notice directs claimants to request copies or equivalent documents from the broker. Originals should not be sent, and the notice asks claimants not to highlight any portion of the supporting documents.
The reporting window is wider than the eligibility window, which is the detail most likely to cost someone a claim. Only purchases made between July 21, 2021 and February 6, 2023 are eligible, but the claim form asks for purchases and sales through the close of trading on May 5, 2023, plus holdings at the close on July 20, 2021, February 6, 2023 and May 5, 2023. Those are what the administrator uses to run the FIFO matching and the 90-day look-back, and an incomplete schedule of transactions can get the claim rejected even where the eligible trades are all reported.
Documents uploaded through the online portal must be in .jpg, .jpeg, .tif, .tiff, .gif, .png or .pdf format, with a 10 MB limit per document. Claimants with large numbers of transactions can ask the administrator's electronic filing department for the required file layout, and the notice warns that an electronic file is not considered submitted until the administrator confirms it by email.
What Is the Deadline?
The claim form must be postmarked, if mailed, or received, if submitted online, no later than November 19, 2026. The notice gives a date without a time or timezone, so treat it as the whole day and do not count on a late-evening submission being accepted.Two earlier deadlines fall on October 19, 2026. A request for exclusion has to be received by that date, and it has to list the dates and number of Holley securities purchased, acquired and sold during the class period along with your name, address, telephone number and signature. Objections, and any notice of intention to appear at the hearing, must also be received by the court and by counsel on or before October 19, 2026. Excluding yourself and objecting are mutually exclusive: a class member who opts out gives up any payment and can no longer object.
How Do You Take Action?
Claims are filed through the official settlement website, Holley Securities Settlement, which carries the long-form notice, the settlement agreement, the court documents and both the online and printable claim forms.Filing online means completing the claimant identification section, entering the schedule of transactions in Holley common stock and, separately, in Holley warrants, uploading the supporting brokerage documents, and certifying the claim under penalty of perjury. The claim is not submitted until the confirmation page appears with a claim number on it — the site warns that exiting before that point discards everything entered, that the back button cannot be used afterward, and that the confirmation page cannot be retrieved once closed. Print or save it; the claim number is the proof of filing.
If the supporting documents will not upload, the online process offers a printable transmittal letter at the end so the documentation can be mailed separately. Multiple claim forms have to be submitted one at a time rather than combined. Brokers and other nominees who bought Holley securities for someone else's benefit have their own seven-day obligation under the notice, either to give the administrator the beneficial owners' names and addresses or to forward the postcard notice themselves.
Class members who do nothing get no payment and remain bound by the judgment, which means giving up the right to sue the defendants and the other released parties over the claims this settlement resolves.
What Happens Next?
The next milestone is the final approval hearing on November 9, 2026 at 9:30 a.m. Central Time before Judge Greg N. Stivers in the Bowling Green Division of the U.S. District Court for the Western District of Kentucky. At that hearing the court will consider whether the settlement and the Plan of Allocation are fair, reasonable and adequate, whether to dismiss the case with prejudice, and what to award in attorneys' fees, expenses and the lead plaintiff's service award.The court can move the hearing or hold it by telephone or video without sending another notice to the class, and the notice directs class members who plan to attend to check the settlement website and the docket first. Attendance is not required, and a written objection received on time is considered whether or not the objector appears.
Payments come after approval, after any appeals are resolved, and after all claims have been processed. The notice does not commit to a payment date and asks class members to be patient, and no payment date had been announced as of September 16, 2026. One other contingency sits behind the settlement: if valid exclusion requests exceed a threshold set out in a confidential supplemental agreement between the parties, Holley has the option to terminate the settlement.
Any money left in the fund after distribution and any follow-on redistributions that remain economically feasible is to be donated to a non-sectarian, non-profit charitable organization serving the public interest.
Sources and Verification
This page is based on the official settlement documents: the Notice of Pendency and Proposed Settlement of Class Action dated August 3, 2026, including the Plan of Allocation and the inflation and 90-day look-back tables; the Proof of Claim and Release form; the court-ordered postcard notice; the online filing instructions on the settlement website; and the Stipulation of Settlement dated July 17, 2026, in City of Fort Lauderdale General Employees' Retirement System v. Holley Inc., f/k/a Empower Ltd., et al., Civil Action No. 1:23-cv-00148-GNS (W.D. Ky., Bowling Green Division).- Holley Securities Settlement — the official court-approved settlement website, including the notice, court documents and claim form.
- CourtListener docket — the public docket for the underlying case.
Court filings in the case are also available for a fee through PACER. This page is informational and is not legal advice.
Questions
Do Holley warrants count, or only common stock?
Both. The class covers Holley securities, and the Plan of Allocation runs separate inflation tables for common stock and for warrants. Warrant claims are capped as a group: if the recognized losses calculated on warrants come to more than 5% of all recognized claims, every warrant figure is cut proportionally until the warrant total equals 5%. If the fund turns out to be large enough to pay all stock-based claims in full, any excess goes to the remaining warrant claims.
Why does the notice say shares sold before July 29, 2022 recover nothing?
Securities-fraud damages depend on loss causation: the class member has to have still held the security when a disclosure allegedly corrected the market. Holley's first alleged corrective disclosure in the Plan of Allocation falls on July 29, 2022, so a share bought and sold entirely before that date produces a claim of $0.00 no matter how large the trading loss was. The same rule applies to warrants.
Do transactions after the class period still have to be reported?
Yes. Only purchases made between July 21, 2021 and February 6, 2023 are eligible, but the claim form also asks for sales through the close of trading on May 5, 2023, and for holdings at the close on July 20, 2021, February 6, 2023 and May 5, 2023. Those are needed to run the FIFO matching and the statutory 90-day look-back. The notice states that leaving out the requested transaction and holding information may get the claim rejected.
What happens if the calculated payment is very small?
Nothing is distributed below $10.00. The Plan of Allocation states that if an authorized claimant's prorated payment calculates to less than $10.00, it is not included in the calculation and no distribution is made to that claimant.
Can a class member file more than one claim form?
One claim form per separate legal entity, covering all of that entity's accounts. An individual with several brokerage accounts files a single form listing every account. An IRA is a separate legal entity from the individual, so it needs its own form, and joint owners file together with both names listed. The claim must come from the beneficial owner, not the brokerage that appears as record owner.
Official Settlement Notice
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Settlement Amount
$12,750,000
Case Title
City of Fort Lauderdale General Employees' Retirement System v. Holley Inc., f/k/a Empower Ltd., et al.
Case Number
1:23-cv-00148-GNS
Court
U.S. District Court, Western District of Kentucky, Bowling Green Division
Final Approval Hearing
November 9, 2026 at 9:30 AM CT
Before Judge Greg N. Stivers · the court may change the date or hold it remotely
Administrator
Verita Global, LLC
Official Website
Holley Securities Settlement
