Cases & investigations

Cases & investigations

Hyzon Motors Inc.

Kaskela Law LLC is investigating Hyzon Motors Inc. (“Hyzon” or the “Company”) (NASDAQ: HYZN; NASDAQ: DCRB) on behalf of the Company’s long-term stockholders.

The investigation is focused on whether the members of Hyzon’s board of directors violated the securities laws or breached their fiduciary duties to stockholders in connection with recent corporate actions and disclosures.

Hyzon manufactures hydrogen-powered commercial vehicles and fuel cell systems. The current company was formed in July 2021 via a business combination with SPAC entity Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB) (“DCRB”), with Hyzon as the surviving, public entity.

On September 28, 2021, market analyst Blue Orca Capital published a report about Hyzon which reported that Hyzon’s largest customer is a “Fake-Looking Chinese Shell Entity Formed 3 Days Before Deal Announced.” The report also disclosed that Hyzon’s next largest customer, Hiringa Energy (“Hiringa”), a tiny New Zealand startup company, is not really a customer, but rather, is a “channel partner” for Hyzon’s vehicles.  Following this news, shares of Hyzon’s stock fell $2.58 per share, or 28%, to close at $6.63 per share on September 28, 2021.

Current Hyzon stockholders who purchased or acquired HYZN or DCRB shares prior to June 1, 2021 are encouraged to contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 – 1585, or by completing the information form on this page, for additional information about this investigation and their legal rights and options. 

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