NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Hyzon Motors Inc. (“Hyzon” or the “Company”) (NASDAQ: HYZN) on behalf of Hyzon stockholders. Our investigation concerns whether Hyzon has violated the federal securities laws and/or engaged in other unlawful business practices.
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On September 28, 2021, Blue Orca Capital (“Blue Orca”) 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 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, Hyzon’s share prices fell $2.58 per share, or approximately 28%, to close at $6.63 per share on September 28, 2021.
If you purchased or otherwise acquired Hyzon shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.