NEW YORK, October 1, 2021 / PRNewswire / – Bernstein Liebhard, a leading investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who have purchased or acquired securities of Hyzon Motors Inc. f / k / a Decarbonization Plus Acquisition Corporation (âHyzonâ or the âCompanyâ) (NASDAQ: DCRB, HYZN) de February 9, 2021 through September 27, 2021 (the âRecourse Periodâ). The lawsuit filed in United States District Court of the Western District of new York alleges violations of the Securities Act of 1934.
If you purchased Hyzon securities, and / or if you wish to discuss your rights and options please visit Hyzon Motors Inc Shareholder Class Action visit or contact Rujul patel free of charge at (877) 779-1414 or [email protected]
According to the complaint, Hyzon made false and / or misleading statements and did not disclose adverse facts regarding the business, operations and prospects of the company. Hyzon specifically failed to disclose to investors: (1) that Hyzon has distorted the nature of its customer contracts and severely embellished its agreements and partnerships with its customers; (2) Hyzon was unable to deliver its vehicles announced in 2021, within the announced deadlines; and (3) accordingly, the defendants’ public statements were materially false and / or misleading at all material times.
At September 9, 2021, the Company issued a press release titled “Hyzon Motors to Supply Up to 500 Hydrogen Fuel Cell Electric Vehicles to Shanghai logistics company “regarding the offers and delivery schedule of the Company.
On this news, Hyzon’s stock rose 29% following the announcement prior to the marketing of a new major contract for 500 trucks (including 100 orders in 2021) from a new Chinese customer, Shanghai HongYun.
At September 28, 2021, market analyst Blue Orca Capital has published a report on the company (the âBlue Orca Reportâ) which, among other things, disclosed in a relevant section, regarding the so-called main client appears to be only one entity empty shell.
On this news, Hyzon shares fell $ 2.58 per share, or 28%, to close at $ 6.63 per share on September 28, 2021, on an unusually high volume of transactions.
If you wish to serve as principal plaintiff, you must move to court no later November 29, 2021. A principal plaintiff is a representative party acting on behalf of other members of the class to direct the litigation. Your ability to participate in any recovery does not require you to serve as the principal applicant. If you choose not to take any action, you can remain an absent member of the group.
If you purchased Hyzon securities, and / or if you wish to discuss your rights and options please visit https://www.bernlieb.com/cases/hyzonmotorsinc-hyzn-shareholder-class-action-lawsuit-fraud-stock-443/ or contact Rujul Patel toll free at (877) 779-1414 or [email protected]
Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its customers. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and take legal action on their behalf. Due to its success in litigating hundreds of lawsuits and class actions, the firm has been named thirteen times on the National Law Journal’s Plaintiff List and listed in The Legal 500 for ten consecutive years.
LAWYER ADVERTISING. Â© 2021 Bernstein Liebhard LLP. The law firm responsible for this announcement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this announcement in the State of Connecticut is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to any future matter.
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SOURCE Bernstein Liebhard LLP