Hyzon Motors Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Hyzon Motors Inc. (NASDAQ: HYZN) resulting from allegations that Hyzon Motors may have issued materially misleading business information to the investing public.

If you purchased Hyzon Motors securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Hyzon Motors securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On August 4, 2022, after market hours, Hyzon Motors filed with the SEC a current report on Form 8-K which announced, in part, that: (1) “[t]he Audit Committee of the Board of Directors of the Company, based on the recommendation of management, determined that the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and Quarterly Report on Form 10-Q for the period ended March 31, 2022 (the ‘Non-Reliance Periods’) should no longer be relied upon[;]”; (2) “[t]he Company has determined to withdraw all financial and operational guidance it has previously issued for all periods, including for the year ended December 31, 2022 and subsequent years[;]” (3) “the Company’s Board of Directors appointed a committee of independent board members to investigate, with the assistance of independent outside counsel and other advisors, certain issues regarding revenue recognition timing and internal controls and procedures, primarily pertaining to its China operations[;]” and (4) “[t]he Company has identified operational inefficiencies at Hyzon Motors Europe B.V., … which will have a material adverse effect on the Company’s ability to produce and sell vehicles. As a result, the Company has determined to restructure its European operations.”

On this news, Hyzon Motor’s stock price fell $1.71 per share, or 38%, to close at $2.78 per share on August 5, 2022, the next trading day, on unusually heavy trading volume.

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Company Name: Hyzon Motors Inc.
Stock Symbol: HYZN
Class Period: N/A
Court: N/A

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