The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Hyliion Holdings Corp. (“Hyliion” or the “Company”) (NYSE: HYLN) common stock between May 12, 2026 and June 23, 2026, inclusive (the “Class Period”). Hyliion Holdings Corp. investors have until October 27, 2026 to file a lead plaintiff motion.

IF YOU SUFFERED A LOSS ON YOUR HYLIION HOLDINGS CORP. (HYLN) INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.

You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at info@frankcruzlaw.com, by telephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com.

What Happened?

On June 23, 2026, Pelican Way Research issued a report entitled “Hyliion: A Glorified Science Project Who Has Continuously Failed to Meet Expectations And Is Now Throwing Around A Meaningless Deal.” The report alleged that a recent letter of intent the Company announced with VFG Holdings, LLC (“VFG”) for a major deal “is a sham” because VFG “does not appear to have any substance,” has a website that “contains just two pages” and appears to only have four employees. The report called into question whether VFG is an “AI data center integrator” capable of the deal previously announced by the Company.

On this news, the price of Hyliion stock fell $1.27 per share, or 17.2%, to close at $6.10 on June 23, 2026, thereby injuring investors. The following day, Hyliion stock fell another $1.18 per share, or 19.3%, to close at $4.92 on June 24, 2026, thereby injuring investors further.

What Is The Lawsuit About?

The complaint filed in this class action alleges that between May 12, 2026 and June 23, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) in order to cause rapid price appreciation in Hyliion stock, Defendants announced a deal with an entity that was very recently formed and does not appear to have any actual business operations; (2) the Individual Defendants timed the announcement and foregoing price appreciation to insider trade; and (3) as a result, Defendants’ statements about Hyliion’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Contact Us To Participate or Learn More:

If you purchased Hyliion securities, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at:

Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Century City, CA 90067
Telephone: 310-914-5007
Email: info@frankcruzlaw.com
Visit our website at: www.frankcruzlaw.com

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View source version on businesswire.com: https://www.businesswire.com/news/home/20260908352684/en/

Law Offices of Frank R. Cruz Encourages Hyliion Holdings Corp. (HYLN) Shareholders To Inquire About Securities Fraud Class Action