HYLN Investor Alert: Johnson Fistel Encourages Hyliion Holdings Corp. Investors to Contact the Firm Ahead of October 27, 2026 Lead Plaintiff Deadline

SAN DIEGO--(BUSINESS WIRE)--Johnson Fistel, PLLP, a shareholder-rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Hyliion Holdings Corp. (NYSE American: HYLN) securities between May 12, 2026 and June 23, 2026, inclusive (the “Class Period”).

The lawsuit, captioned Olmeta v. Hyliion Holdings Corp., et al., No. 1:26-cv-02375, is pending in the United States District Court for the Western District of Texas. The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.

Join the Hyliion Investigation

If you purchased Hyliion securities during the Class Period and suffered losses, you may be eligible to seek appointment as lead plaintiff. The deadline to file a motion for appointment as lead plaintiff is October 27, 2026.

To learn more and submit your information, visit:

https://www.johnsonfistel.com/investigations/hyliion-holdings/

You may also contact Johnson Fistel, PLLP at [e-mail] or [phone]. There is no cost or obligation to you.

What Is the Hyliion Class Action About?

According to the complaint, Hyliion announced on May 12, 2026 that it had entered into a non-binding letter of intent with VFG Holdings LLC to establish a strategic partnership focused on deploying KARNO Power Modules for advanced data-center applications. The parties reportedly intended to pursue deployment opportunities involving up to 250 KARNO Cores, representing approximately 50 megawatts of power-generation capacity over five years.

Following the announcement, Hyliion’s common stock increased from a closing price of $2.68 per share on May 12, 2026 to $4.67 per share on May 15, 2026.

The complaint alleges that defendants made materially false or misleading statements or failed to disclose that VFG had only recently been formed and did not appear to have substantive business operations. The complaint further alleges that certain Hyliion officers timed the VFG announcement and the resulting stock-price appreciation to facilitate insider stock sales.

Why Did Hyliion Stock Drop?

On June 23, 2026, Pelican Way Research issued a report concerning Hyliion and its letter of intent with VFG.

According to the complaint, the report alleged that VFG had been registered in January 2026, maintained a two-page website with no listed address, appeared to have approximately four employees, and had not publicized business activity other than its relationship with Hyliion. The report questioned whether VFG engaged in meaningful business operations and whether it was capable of executing the relationship described in Hyliion’s announcement.

Following the report, Hyliion’s stock price declined $1.27 per share, or 17.2%, to close at $6.10 on June 23, 2026. The following day, the stock declined an additional $1.18 per share, or 19.3%, closing at $4.92 per share on June 24, 2026.

What Is a Lead Plaintiff?

The lead plaintiff is a court-appointed investor who acts on behalf of the proposed class in directing the litigation. Investors seeking appointment as lead plaintiff must file their motions with the Court by October 27, 2026.

Serving as lead plaintiff is not required to share in any potential recovery. Investors may retain counsel of their choice or take no action and remain absent members of the proposed class. No class has yet been certified.

About Johnson Fistel, PLLP

Johnson Fistel, PLLP is a nationally recognized shareholder-rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in securities class actions, shareholder derivative lawsuits, and other matters involving violations of state and federal law.

Johnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. In 2024, the firm recovered approximately $90,725,000 for investors in cases in which it served as lead or co-lead counsel.

Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. This press release may be considered a promotional communication. Frank J. Johnson is the attorney responsible for this communication.