Holley investors filing in the $12.75 million HLLY securities settlement have to report more than their eligible trades: the claim form asks for sales through May 5, 2023 and holdings on three separate dates, and the notice says an incomplete schedule can get a claim rejected. Eligible purchases run only from July 21, 2021 to February 6, 2023, but the administrator needs the wider record to run its calculations. Claims are due November 19, 2026, and the notice puts the average payout at roughly $0.16 a share before fees.
Status: Claims open, final approval not yet granted | Claim deadline November 19, 2026 | Opt out or object by October 19, 2026 | Hearing November 9, 2026
What Holley Is Accused Of, and Where the Case Stood
The case is 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, in the Bowling Green Division of the U.S. District Court for the Western District of Kentucky. Holley, the automotive aftermarket company, and three of its executives agreed to pay $12,750,000 to resolve securities-fraud claims covering purchases of Holley securities during the class period. Holley had been Empower Ltd., a special-purpose acquisition company, until a business combination in July 2021; the class period begins days after that deal closed.
The case was not settled early. The court denied the defendants’ motion to dismiss on August 29, 2025. The parties then exchanged more than 173,000 pages of documents, including subpoenas to four Holley distribution partners and eleven analyst firms. The lead plaintiff moved for class certification in January 2026, and in April 2026 the defendants deposed its market-efficiency expert. An in-person mediation on April 16, 2026 ended without a deal, but talks with the mediator continued and the parties reported a settlement in principle about a week later. The stipulation was signed July 17, 2026, and the notice is dated August 3, 2026.
Holley and the individual defendants deny the allegations and any liability or wrongdoing, and the settlement contains no admission. The notice records that the two sides still disagree on liability, damages and whether the case could have proceeded as a class action.
Who Belongs to the Class
The class covers everyone who purchased or otherwise acquired Holley securities — common stock and warrants — between July 21, 2021 and February 6, 2023, inclusive, and was allegedly damaged. Excluded are the defendants and their immediate families; Holley’s current and class-period officers, directors and affiliates and their legal representatives, heirs and assigns; entities in which a defendant has or had a controlling interest; and anyone who validly opts out. The notice also says that getting a notice in the mail does not by itself make you a class member.
The Three Limits That Shape a Recovery
- July 29, 2022. That is the first alleged corrective disclosure in the plan of allocation. Securities bought and sold entirely before it have a claim of $0.00, however large the trading loss.
- The 90-day look-back. Anything held after February 7, 2023 is measured against the mean closing price over the statutory look-back window: $2.36 for common stock and $0.32 for warrants. A claim cannot exceed the purchase price minus that figure.
- The 5% warrant cap. Warrant claims as a group are limited to 5% of the net settlement fund. If calculated warrant losses exceed that share, every warrant figure is reduced proportionally. Excess money flows back to warrant claims only if all stock claims are paid in full.
The plan assigns an artificial-inflation figure to each day of the class period. For common stock it starts at $8.18 per share for purchases from July 21, 2021 through July 28, 2022, then steps down to $3.18, $1.83, $1.27 and $0.20 as the alleged inflation came out, reaching $0.00 from February 8, 2023. The warrant table follows the same pattern at $2.42, $1.25, $0.61, $0.30 and $0.07.
Two more rules apply. A claimant whose overall market loss across all Holley securities is smaller than the calculated claim is limited to that market loss, and a claimant with an overall net gain is not eligible. No distribution is made if a prorated payment comes to less than $10.00.
What the Money Looks Like
The lead plaintiff estimates an average distribution of about $0.16 per share of common stock before taxes, notice and administration costs, and court-awarded fees and expenses. The notice estimates the requested fees and expenses at about $0.04 per share. These are the notice’s own estimates, and individual results can be higher or lower. Lead counsel will ask for up to 25% of the settlement amount in fees plus expenses of no more than $300,000, with interest, and the lead plaintiff may seek up to $10,000 for representing the class. Anything the court approves comes out of the fund before distributions are figured.
Building the Claim
There is no Claim ID or PIN to unlock the form; your broker paperwork is the gate. Every transaction you list must be backed by brokerage confirmations, account statements or an authorized broker statement with the same information. The notice says neither the parties nor the administrator has independent records of your trades. If you do not have the documents, ask your broker for copies. Do not send originals, and do not highlight the documents.
| Holdings to report | At the close on July 20, 2021; February 6, 2023; and May 5, 2023 |
| Transactions to report | Purchases and sales from July 21, 2021 through the close on May 5, 2023, listed separately for common stock and warrants |
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One claim form covers one legal entity and all of its accounts. Several brokerage accounts in one person’s name go on a single form, an IRA needs its own form, and joint owners file one form listing both names. The claim must come from the beneficial owner, not the broker shown as record owner.
Claims are filed on the official Holley Securities Settlement website, run by administrator Verita Global, LLC. The site warns that a claim is not submitted until a confirmation page with a claim number appears, that leaving early discards the entry, and that the confirmation cannot be pulled up again once closed — so save or print it. If documents will not upload, a printable transmittal letter lets you mail them. High-volume filers can request the electronic file layout; an electronic file counts only after the administrator confirms it by email.
Dates
| October 19, 2026 | Exclusion requests and objections must be received |
| November 9, 2026, 9:30 a.m. CT | Final approval hearing before Judge Greg N. Stivers |
| November 19, 2026 | Claim forms postmarked or submitted online; no time of day is given |
The court can reschedule the hearing or hold it by phone or video without new notice. Opting out means no payment and no right to object; doing nothing means no payment and being bound by the release. If valid exclusions pass a threshold in a confidential supplemental agreement, Holley may terminate the settlement. Payments follow approval, appeals and claims processing, and no payment date has been announced. Any money left over after feasible redistributions goes to a non-sectarian, non-profit charity. OpenClassActions.com keeps its Holley settlement page current.
Frequently Asked Questions
Why do I have to report trades after February 6, 2023?
The administrator uses sales through May 5, 2023 and holdings on July 20, 2021, February 6, 2023 and May 5, 2023 to run FIFO matching and the 90-day look-back. The notice says leaving out requested transaction and holding information may get a claim rejected.
Do Holley warrants qualify?
Yes. Both common stock and warrants are covered, each with its own inflation table, but warrant claims together are capped at 5% of the net settlement fund.
I bought and sold HLLY before July 29, 2022. Is there a claim?
No. A position bought and sold entirely before the first alleged corrective disclosure on July 29, 2022 has a claim of $0.00 under the plan of allocation.
How much is the Holley settlement paying per share?
The notice estimates an average of about $0.16 per share of common stock before fees and expenses, with requested fees and expenses estimated at about $0.04 per share. Individual payments may be higher or lower, and nothing is paid below $10.
Do I need a separate form for my IRA?
Yes. An IRA is a separate legal entity from the individual, so it needs its own claim form. Several regular brokerage accounts in one name go on a single form.
Sources
- Official settlement website, notice, court documents and claim forms — Holley Securities Settlement, administered by Verita Global, LLC.
- Notice of Pendency and Proposed Settlement of Class Action dated August 3, 2026, Plan of Allocation, Proof of Claim and Release, and Stipulation of Settlement dated July 17, 2026, City of Fort Lauderdale General Employees’ Retirement System v. Holley Inc., No. 1:23-cv-00148-GNS (W.D. Ky.).
- OpenClassActions.com — Holley Securities Settlement: $12.75M for HLLY Investors.
Source and credit: the settlement terms, deadlines and benefit details described above are drawn from our sister site’s reporting — OpenClassActions.com: Holley Securities Settlement — $12.75M for HLLY Investors — which tracks this case against the court-approved notice and the official settlement website and is updated as the court rules.
Legal Disclaimer
This article is for informational purposes only and is not legal advice. OpenClassActions.org is a consumer news site, not a law firm and not the settlement administrator, and is not affiliated with any party to the case described. The allegations are allegations; unless a court has ruled, the defendants deny wrongdoing and no court has decided the merits. Deadlines, benefit amounts and payment timing can change as the court and the administrator act, so confirm current status on the official settlement website. You never need to pay anyone to file a claim or to receive a settlement payment.