Holley Securities Class Action Settlement

Investors who bought or otherwise acquired Holley Inc. (NYSE: HLLY, formerly Empower Ltd.) common stock or warrants between July 21, 2021 and February 6, 2023 may qualify for a pro rata share of a $12,750,000 securities class action settlement. Claims must be postmarked or submitted online by November 19, 2026. Before you spend time on the form, check two things that decide most claims: Holley securities sold prior to July 29, 2022 have a claim of $0.00 per share under the Plan of Allocation, and nothing is distributed if your prorated payment calculates below $10.00. Warrant holders should also know that warrants as a group are capped at 5% of the Net Settlement Fund — a cap on that slice alone, not on the settlement overall. Brokerage records are required; there is no document-free option.

Do I Qualify?

You may be eligible if:

• You may qualify if you purchased or otherwise acquired Holley Inc. (NYSE: HLLY, f/k/a Empower Ltd.) common stock or warrants between July 21, 2021 and February 6, 2023, inclusive, and were allegedly damaged. Holley took its current form partway through that window — it was the SPAC Empower Ltd. before the July 2021 business combination — which is why the case caption reads Holley Inc., f/k/a Empower Ltd. Qualifying for the Class is not the same as having a payable claim. Securities bought and sold entirely before July 29, 2022 produce a Recognized Loss of $0.00, so an investor who traded out during the first year of the class period is in the Class but collects nothing. 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. Defendants, their Immediate Family Members, Holley's current and Class Period officers, directors and affiliates, any entity in which a Defendant has or had a controlling interest, and the legal representatives, heirs, successors and assigns of those parties are excluded, as is anyone who opts out by October 19, 2026.

Documentation is required and there is no document-free tier. Every transaction listed on the Proof of Claim 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 Claims 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 at any time. There is no administrator-issued Claim ID or PIN gating the online form — your own broker paperwork is what gates it. If the documents are not in your possession, request copies or equivalent documents from your broker. Do not send originals, and do not highlight any portion of the supporting documents.

What Happened?

Lead Plaintiff City of Fort Lauderdale General Employees' Retirement System sued Holley Inc., f/k/a Empower Ltd., and executives Tom Tomlinson, Dominic Bardos and Vinod Nimmagadda in the U.S. District Court for the Western District of Kentucky, Bowling Green Division, Civil Action No. 1:23-cv-00148-GNS. 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 covering the company. Lead Plaintiff moved for class certification in January 2026 and 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 reported a settlement in principle a week later. The Stipulation of Settlement is dated July 17, 2026, and the court-authorized notice is dated August 3, 2026. Holley and the individual defendants deny the allegations and any liability or wrongdoing of any kind; the settlement resolves the claims without any admission, and the parties still disagree on liability, on damages, and on whether the case could properly proceed as a class action. The final approval hearing is set for November 9, 2026 at 9:30 a.m. Central Time before Judge Greg N. Stivers. The court has not yet approved the settlement and no payment date has been announced.

How to File Your Claim

1. File online at HolleySecuritiesSettlement.com, or mail the completed Proof of Claim to Holley Securities Settlement, Claims Administrator, c/o Verita Global, P.O. Box 301170, Los Angeles, CA 90030-1170 — postmarked if mailed, or submitted online, on or before November 19, 2026. Documentation is required for every reported transaction: brokerage confirmation slips, brokerage account statements, or an authorized statement from your broker containing the same transactional and holding information. Report more than the eligible window — the 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, and an incomplete schedule can get the claim rejected even when every eligible trade is listed. Uploaded documents must be .jpg, .jpeg, .tif, .tiff, .gif, .png or .pdf, 10 MB per document. The online claim is not submitted until the confirmation page appears with a claim number on it
2. save or print it, because it cannot be retrieved once closed.
3. Visit the official claim form: https://www.holleysecuritiessettlement.com/

How Much Will I Actually Get?

Pro rata cash from the $12,750,000 fund based on your Recognized Loss: your Recognized Loss divided by the total Recognized Loss of all authorized claimants, applied to the portion of the Net Settlement Fund attributable to your type of Holley security. The notice estimates the average distribution at approximately $0.16 per share of common stock before Taxes, Notice and Administration Expenses, and any Court-awarded attorneys' fees, expenses and interest — estimated at roughly $0.04 per share if the requested amounts are approved. These are estimates and an individual Class Member may receive more or less. STOCK AND WARRANTS ARE CUMULATIVE, NOT AN ELECTION: separate inflation tables run for each, and a claimant who held both reports both on the same form and has the two Recognized Loss figures added together. BUT THE 5% CAP APPLIES TO WARRANTS ONLY, NOT TO THE SETTLEMENT AS A WHOLE: settlement proceeds available for warrants acquired during the Class Period are limited to a total equal to 5% of the Net Settlement Fund. If the cumulative Recognized Loss Amounts for warrants exceed 5% of all Recognized Claims, 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. Warrant holders should size their expectations against that 5% slice rather than against the $12.75 million headline. A separate cap applies only to litigation expenses, not to fees: Lead Counsel will apply for attorneys' fees not to exceed 25% of the Settlement Amount, plus expenses not to exceed $300,000, plus interest on both, and Lead Plaintiff may seek up to $10,000 for representing the Class. Whatever the Court approves comes out of the fund before distributions are calculated. Nothing is distributed where the prorated payment calculates to less than $10.00.

Last reviewed: September 17, 2026 | Information verified from court records and official settlement documents.

Frequently Asked Questions