HYZON MOTORS INC. NEW YORK, Oct. 7, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Hyzon Motors Inc. f/k/a Decarbonization Plus Acquisition Corporation ("Hyzon or the "Company") (NASDAQ: HYZN) (NASDAQ: HYZNW) (NASDAQ: DCRB) (NASDAQ: DCRBW) and (NASDAQ: DCRBU). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Hyzon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 28, 2021, Blue Orca Capital ("Blue Orca") published a report (the "Blue Orca Report") concerning Hyzon, alleging, among other things, that "channel checks reveal . . . that Hiringa"—one of the Company's purported largest customers—"was not actually a customer, but a 'channel partner' assisting Hyzon in marketing vehicles to real end customers in New Zealand." Additionally, although Hyzon claimed that "Hiringa will account for 24% of the Company's projected deliveries in 2021," the Blue Orca Report alleged that "Hiringa stated point blank that no deliveries would be taken in 2021," so Blue Orca "expect[s] a major guidance miss." Moreover, according to the Blue Orca Report, multiple executives left Hyzon because they "became uncomfortable with how Hyzon was presenting customer orders to investors" as it felt "a bit like unfortunately what Nikola was doing."
On this news, Hyzon's stock price fell $2.58 per share, or 28.01%, to close at $6.63 per share on September 28, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
