HYZN Alert: Monsey Firm of Wohl & Fruchter LLP Investigating Hyzon Motors Inc.
MONSEY, New York, Jan. 12, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether Hyzon Motors Inc. (Nasdaq: HYZN) (“Hyzon”) has violated federal securities laws. If you suffered losses as a result of HYZN’s recent stock drops, and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
Alternatively, you may contact us by phone at 866-833-6245, or via email at email@example.com.
Why is there an investigation?
On September 28, 2021, Blue Orca Capital issued a report alleging that “Hyzon’s supposed major customers are a fake-looking Chinese shell company incorporated three days before the deal announcement and a tiny New Zealand startup which told us they are not really a customer.”
On January 12, 2022, Hyzon announced that it received a subpoena from the Securities and Exchange Commission (SEC) for production of documents and information, and that the request relates to allegations made in Blue Orca Capital’s report.
Since the Blue Orca Capital report was released, HYZN’s stock price has dropped from $9.21 at the close on September 27, 2021, to $6.81 at the close on January 11, 2022. In trading on January 12, 2022, following the announcement of the SEC probe, HYZN’s price had dropped nearly 10% as of 12:00 P.M. ET.
“We’re focused on investors’ losses and determining whether Hyzon misled investors about its operations,” said Joshua Fruchter, the Wohl & Fruchter partner leading the investigation.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.