The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Hyzon Motors Inc. (“Hyzon” or “the Company”) (NASDAQ: HYZN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Hyzon is the subject of a research report published by Blue Orca Capital on September 28, 2021. The report alleges 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 report added, “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,” and “Former Executives Left in Part Because of Concerns over Misrepresentations on Customer Contracts. We spoke with one former senior executive … he 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.’” Based on this report, shares of Hyzon fell by more than 26% in intraday trading.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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Contacts
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
