A lawsuit was filed on behalf of investors in Hyzon Motors Inc. (NASDAQ:HYZN, HYZNW, DCRB, DCRBW, DCRBU) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/13/2021 -- An investor, who purchased shares of Hyzon Motors Inc. (NASDAQ: HYZN, HYZNW, DCRB, DCRBW, DCRBU), filed a lawsuit over alleged Securities Laws violations by Hyzon Motors Inc.
Investors who purchased a shares of Hyzon Motors Inc. (NASDAQ: HYZN, HYZNW, DCRB, DCRBW, DCRBU), have certain options and for certain investors are short and strict deadlines running. Deadline: November 29, 2021. NASDAQ: HYZN, HYZNW, DCRB, DCRBW, DCRBU investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Honeoye Falls, NY based HYZON Motors Inc, a hydrogen mobility company, manufactures hydrogen-powered commercial vehicles and fuel cell systems.
On September 28, 2021, market analyst Blue Orca Capital published a report regarding Hyzon which stated, among other things, that "Hyzon's Largest Customer is a Fake-Looking Chinese Shell Entity Formed 3 Days Before Deal Announced[,]" and "Channel Checks Reveal Next Largest Customer Not Really a Customer … when we channel checked these claims with Hiringa, its executive clarified that Hiringa was not actually a customer, but a 'channel partner' assisting Hyzon in marketing vehicles to real end customers in New Zealand." The Blue Orca report also stated that "According to Hyzon, Hiringa will account for 24% of the Company's projected deliveries in 2021. Yet Hiringa stated point blank that no deliveries would be taken in 2021[.]" Further, the Blue Orca report stated that "Former Executives Left in Part Because of Concerns over Misrepresentations on Customer Contracts. We spoke with one former senior executive … [h]e said he 'didn't like the way [customer contracts] were being presented' and compared Hyzon 'a bit like unfortunately what Nikola was doing… I was very uncomfortable with that.'"
Shares of Hyzon Motors Inc. (NASDAQ: HYZN, HYZNW, DCRB, DCRBW, DCRBU) declined from $10.29 per share on September 22, 2021, to $6.00 per share on September 29, 2021.
The plaintiff alleges on behalf of purchasers of Hyzon Motors Inc. (NASDAQ: HYZN, HYZNW, DCRB, DCRBW, DCRBU) common shares between February 9, 2021 and September 27, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 9, 2021 and September 27, 2021, the defendants made false and/or misleading statements and/or failed to disclose that Hyzon was misrepresenting the nature of its "customer" contracts and severely embellished its "deals" and "partnerships" with customers, that Hyzon could not deliver its announced vehicles in 2021, on its stated timeline, and thatas a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of Hyzon Motors Inc. (NASDAQ: HYZN, HYZNW, DCRB, DCRBW, DCRBU) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.