SAN DIEGO, October 2, 2021 / PRNewswire / – Robbins Geller Rudman & Dowd LLP announces that the buyers or acquirers of Hyzon Motors Inc. f / k / a Decarbonization Plus Acquisition Corporation (NASDAQ: HYZN; HYZNW) have traded securities between February 9, 2021 and September 27, 2021, inclusive (the âRecourse Periodâ) until November 29, 2021 to seek appointment as principal applicant in the Hyzon Engines class action lawsuit. The Hyzon Engines The class action lawsuit accuses Hyzon Motors and some of its senior executives of violations of the Securities Exchange Act of 1934. Hyzon Engines a class action lawsuit was initiated on September 30, 2021 in the western district of new York and is subtitled Kauffmann v. Hyzon Motors Inc. f / k / a Decarbonization Plus Acquisition Corporation, n Â° 21-cv-06612.
If you wish to serve as the principal applicant of the Hyzon Engines class action lawsuit, please provide your information by clicking here. You can also contact attorney JC Sanchez de Robbins Geller by calling 800 / 449-4900 or emailing [emailÂ protected]. The principal applicant’s requests for the Hyzon Engines the class action must be filed with the court at the latest November 29, 2021.
CASE ALLEGATIONS: At February 9, 2021, Hyzon Motors issued a press release titled “Hyzon Motors, Leading Hydrogen Fuel Cell Heavy Vehicle Company, Announces Business Combination with Decarbonization Plus Acquisition Corporation; the combined company is expected to be listed on the Nasdaq â. At July 16, 2021, the merger between Decarbonization Plus Acquisition Corporation – a special purpose acquisition vehicle, also known as “SPAC” or blank check company – and Hyzon Motors United States Inc. f / k / a Hyzon Motors Inc. closed. On that date, Decarbonization Plus Acquisition Corporation changed its name to Hyzon Motors Inc. and the July 19, 2021, the common shares of Hyzon Motors began trading on the NASDAQ under the symbol “HYZN” and the Hyzon Motors warrants began to trade under the symbol “HYZNW”. Prior to the merger, the securities of Hyzon Motors were traded on the NASDAQ under the ticker symbols âDCRBUâ for the Units, âDCRBâ for the Common Shares and âDCRBWâ for the Warrants.
The Hyzon Engines The class action alleges that, throughout the Class Period, the Defendants made false and misleading statements and failed to disclose that: (i) Hyzon Motors distorted the nature of its âcustomerâ contracts and severely embellished its â agreements âandâ partnerships âwith clients; (ii) Hyzon Motors was unable to deliver its vehicles announced in 2021, within the announced deadlines; and (iii) accordingly, the defendants’ public statements were materially false and / or misleading at all relevant times.
At September 28, 2021, market analyst Blue Orca Capital published a report on Hyzon Motors revealing, among other things, that: (i) âHyzon’s biggest customer is a fake Chinese Shell entity formed 3 days before the announcement of the OK ” ; (ii) âChannel checks reveal that the next most important customer isn’t really a customerâ; and (iii) âReputable ghost customers suggest overestimated orders and financial projectionsâ. On this news, shares of Hyzon Motors fell about 28%, hurting investors.
Robbins Geller Rudman & Dowd LLP launched a dedicated SPAC Task Force to protect investors in blank check companies and seek redress for malpractice. Comprised of experienced litigators, investigators and forensic accountants, the PSPC task force is dedicated to eradicating and prosecuting fraud on behalf of aggrieved PSPC investors. The increase in blank check financing presents unique risks for investors. Robbins Geller’s PSPC Working Group represents the forefront of integrity, honesty and fairness in this rapidly developing area of ââinvestment.
THE MAIN COMPLAINANT PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Hyzon Motors securities during the Recourse Period to seek appointment as principal plaintiff in the Hyzon Engines class action lawsuit. A principal plaintiff is generally the plaintiff with the greatest financial interest in the remedy sought by the putative class which is also typical and adequate of the putative class. A lead applicant acts on behalf of all other class members by ordering Hyzon Engines class action lawsuit. The lead plaintiff can choose a law firm of their choice to litigate the Hyzon Engines class action lawsuit. The ability of an investor to participate in any potential future recovery of the Hyzon Engines the class action does not depend on the function of principal plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm representing investors in securities class actions. Robbins Geller lawyers have secured many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $ 7.2 billion – in In re Enron Corp. Dry. Litigation. 2020 ISS Securities Class Action Services Top 50 report ranked Robbins Geller # 1 for recovery $ 1.6 billion for investors last year, more than double the amount recovered by any other company from securities claimants. Please visit http://www.rgrdlaw.com for more information.
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