NEW YORK, Sept. 28, 2021 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Hyzon Motors Inc. (NASDAQ: HYZN) resulting from allegations that Hyzon may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Hyzon securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2165.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On September 28, 2021, market analyst Blue Orca Capital published a report regarding Hyzon which stated, among other things, that “Hyzon’s Largest Customer is a Fake-Looking Chinese Shell Entity Formed 3 Days Before Deal Announced[,]” and “Channel Checks Reveal Next Largest Customer Not Really a Customer … when we channel checked these claims with Hiringa, its executive clarified that Hiringa was not actually a customer, but a ‘channel partner’ assisting Hyzon in marketing vehicles to real end customers in New Zealand.” The Blue Orca report also stated that “According to Hyzon, Hiringa will account for 24% of the Company’s projected deliveries in 2021. Yet Hiringa stated point blank that no deliveries would be taken in 2021[.]” Further, the Blue Orca report stated that “Former Executives Left in Part Because of Concerns over Misrepresentations on Customer Contracts. We spoke with one former senior executive … [h]e said he ‘didn’t like the way [customer contracts] were being presented’ and compared Hyzon ‘a bit like unfortunately what Nikola was doing… I was very uncomfortable with that.’”
On this news, Hyzon’s shares fell sharply during intraday trading on September 28, 2021, on unusually heavy trading volume, damaging investors.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
