Law Offices of Howard G. Smith announces an investigation on Gencor Industries, Inc. (“Gencor” or the “Company”) (NYSE American: GENC) investors concerning the Company’s possible violations of federal securities laws.
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN GENCOR INDUSTRIES, INC. (GENC), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
What Happened?
On December 17, 2024, Gencor disclosed that it would be unable to timely file its Annual Report due to an audit of internal control over financial reporting. Additionally, the Company reported that “material weaknesses exist in the Company’s internal control over financial reporting related to (i) information technology general controls, (ii) controls over key third-party service provider System and Organizational reports, (iii) controls over the period-end close process, and (iv) the monitoring of the Company’s internal control framework.” On this news, Gencor’s stock price fell $3.00, or 14.2%, over two consecutive trading days, to close at $18.06 per share on December 19, 2024, thereby injuring investors.
Then, on January 10, 2025, Gencor disclosed that it had received a notice from NYSE Regulation, notifying the Company that it was not in compliance with continued listing standards. On this news, Gencor’s stock price fell $0.60, or 3.7%, to close at $15.51 per share on January 10, 2025.
Then, on February 11, 2025, Gencor disclosed that it would be unable to timely file its first quarter 2025 financial results, stating that it “continues to experience the delays” previously disclosed “and requires additional time to complete certain analyses necessary for the completion of the financial statements,” and, as a result, “the delay in the finalizing of the 2024 Audit and the delay in finalizing the 2024 Annual Report have resulted in the corresponding delay in the Company’s ability to prepare and file timely the Q1 10-Q.”
Contact Us To Participate or Learn More:
If you purchased Gencor securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com,
Visit our website at: www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20250212327643/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
