RADNOR, Pa., October 24, 2021 (GLOBE NEWSWIRE) – The law firm of Kessler Topaz Meltzer & Check, LLP advises investors that a class action lawsuit has been filed in the United States District Court for the Western District of New York against Hyzon Motors Inc. (“Hyzon”) (NASDAQ: HYZN) f / k / a Decarbonization Plus Acquisition Corporation (“Decarbonization”) (NASDAQ: DCRB) Charging the Company with Violations of Federal Securities Laws, Including Fraudulent Omissions and Misrepresentation Regarding its “Client” Contracts, “Transactions” and “partnerships” with clients. Hyzon’s illicit behavior caused Hyzon’s investors to suffer significant losses due to the company’s alleged violations of law.
CLICK HERE TO SUBMIT YOUR HYZON LOSSES
PRINCIPAL COMPLAINANT DEADLINE: November 29, 2021
COURSE PERIOD: February 9, 2021 to September 27, 2021
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or toll free (844) 887-9500 or by email at [email protected]
HYZON ALLEGED FAULT
Hyzon is a hydrogen mobility company that manufactures hydrogen powered utility vehicles and fuel cell systems. On February 9, 2021, Hyzon issued a press release that touted Hyzon’s alleged deals and delivery schedule. Throughout the Class Period, Hyzon continued to tout its customer contracts, agreements and partnerships, including a September 9, 2021 press release stating that the company was to supply up to 500 fuel cell electric vehicles. hydrogen to a logistics company in Shanghai.
The truth emerged on September 28, 2021, when Blue Orca Capital revealed in a report that Hyzon’s biggest customer, Shanghai HongYun, is a “fake Chinese Shell entity formed 3 days before the deal was announced,” and that Hyzon’s next biggest customer, Hiringa Energy (“Hiringa”), is not really a Hyzon customer but rather a “distribution partner” for Hyzon vehicles. The report further stated that “Hiringa will represent 24% of the [Hyzon]deliveries scheduled for 2021. Yet Hiringa has categorically stated that no deliveries will be taken in 2021, ”which contradicts Hyzon’s statements during the appeal period.
Following this news, Hyzon’s share price fell $ 2.58 per share, or 28%, to close at $ 6.63 per share on September 28, 2021.
WHAT CAN I DO?
Hyzon investors can, no later than November 29, 2021, seek to be appointed as the principal representative of the applicants of the group through Kessler Topaz Meltzer & Check, LLP or another lawyer, or may choose to do nothing and remain an absent member of the group. Kessler Topaz Meltzer & Check, LLP encourages Hyzon investors who have suffered significant losses to contact the company directly for more information.
CLICK HERE TO SUBSCRIBE TO THE CASE
WHO CAN BE A PRINCIPAL APPLICANT?
A principal plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is usually the investor or the small group of investors who have the greatest financial interest and who are also suitable and typical for the category of investor proposed. The lead plaintiff chooses a lawyer to represent the lead plaintiff and the class and these lawyers, if approved by the court, are the lead or class advocates. Your ability to participate in any recovery is not affected by the decision whether or not to serve as the principal applicant.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLPpursues class actions in state and federal courts across the country and around the world. The company has developed a worldwide reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, fault and neglect on the part of companies and trustees. In the end, we were successful if the bad guys pay and you get your holdings back. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 route du Roi de Prussia
Radnor, Pennsylvania 19087
(844) 887-9500 (toll free)