Glancy Prongay Wolke & Rotter LLP, a Leading Securities Fraud Law Firm Encourages Hyliion Holdings Corp. (HYLN) Shareholders To Inquire About Securities Fraud Class Action

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise Hyliion Holdings Corp. (“Hyliion” or the “Company”) (NYSE: HYLN) securities 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.

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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.

If you purchased or otherwise acquired Hyliion Holdings, Inc. securities between May 12, 2026 and June 23, 2026, you may move the Court no later than October 27, 2026 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [e-mail]
Telephone: [phone],
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.