Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Hyzon Motors Inc. (HYZN) on Behalf of Investors - Yahoo Finance
LOS ANGELES, September 28, 2021--(BUSINESS WIRE)--Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Hyzon Motors Inc. ("Hyzon" or the "Company") (NASDAQ: HYZN) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your Hyzon investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/hyzon-motors-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On September 28, 2021, Blue Orca Capital published a report alleging, among other things, that "channel checks reveal . . . that Hiringa was not actually a customer, but a ‘channel partner’ assisting Hyzon in marketing vehicles to real end customers in New Zealand." Though the Hyzon claims that "Hiringa will account for 24% of the Company’s projected deliveries in 2021," the report alleged that "Hiringa stated point blank that no deliveries would be taken in 2021," so Blue Orca "expect[s] a major guidance miss." Moreover, multiple executives left Hyzon because they "became uncomfortable with how Hyzon was presenting customer orders to investors" as it felt "a bit like unfortunately what Nikola was doing."
On this news, the Company’s share price fell as much as $2.31, or 25%, during intraday trading on September 28, 2021.
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Whistleblower Notice: Persons with non-public information regarding Hyzon 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 [email protected].
source: https://finance.yahoo.com/news/glancy-prongay-murray-llp-leading-230000834.html
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