HYZON ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has … | News

NEW YORK, Nov 16, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed against Hyzon Motors Inc. (“Hyzon” or the “Companies”) ( NASDAQ: HYZN) in the United States District Court for the Western District of New York on behalf of all natural and legal persons who purchased or otherwise acquired Hyzon securities between January 23, 2021 and September 27, 2021 (both dates inclusive) (the “Class Period”). Investors have until November 29, 2021 to apply to the court to be named as the main plaintiff in the legal dispute.

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September 2021, Blue Orca Capital published a report claiming, among other things, that “Channel Checks. . . that Hiringa was actually not a customer but a ‘channel partner’ helping Hyzon market vehicles to real end customers in New Zealand. ”Although Hyzon claims that“ Hiringa will account for 24% of the company’s forecast shipments in 2021 ” , the report claimed that “Hiringa bluntly stated no deliveries would be made in 2021,” Blue Orca “expects”[s] a big mistake in orientation. ”In addition, several executives left Hyzon because they“ became uncomfortable with the way Hyzon presented client assignments to investors ”because“ unfortunately it felt a bit like what Nikola was doing ”.

As a result of this news, the company’s share price fell $ 2.58, or 28%, to close at $ 6.63 per share on September 28, 2021, hurting investors.

The lawsuit filed alleges that, during the class action period, defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the company’s business, operations, and prospects. In particular, Defendants have failed to disclose to investors that: (1) Hyzon misrepresented the nature of its “customer” contracts and heavily embellished its “businesses” and “partnerships” with customers; (2) Hyzon was unable to deliver its announced vehicles on the specified schedule in 2021; and (3) as a result, Defendants’ statements about its business, operations and prospects were materially false and misleading and / or were inadequate at all relevant times.

If you have bought or otherwise acquired Hyzon stock and have suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have any questions about this release or your rights or interests in relation to these matters, please contact Email Brandon Walker or Alexandra B. Raymond at [email protected], call (212) 355-4648, or fill out this contact form. There are no costs or obligations for you.

About Bragar Eagel & Squire, PC: Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.

Contact information: Bragar Eagle & Squire, PC Brandon Walker, Esq. Alexandra B. Raymond, Esq. (212) 355-4648 [email protected]

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