LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Gencor Industries, Inc. (“Gencor” or the “Company”) (NYSE American: GENC) investors concerning the Company’s possible violations of the federal securities laws.

IF YOU ARE AN INVESTOR WHO LOST MONEY ON GENCOR INDUSTRIES, INC. (GENC), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.

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 wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.

Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: shareholders@glancylaw.com
Telephone: 310-201-9150 (Toll-Free: 888-773-9224)
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

Whistleblower Notice

Persons with non-public information regarding Gencor should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.

About Glancy Prongay & Murray LLP

Glancy Prongay & Murray LLP (“GPM”) is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. GPM has been consistently ranked in the Top 50 Securities Class Action Settlements by ISS Securities Class Action Services. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements.

With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct and relating to nearly all industries and sectors. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250213902706/en/