SAN DIEGO, Sept. 16, 2026 /PRNewswire/ — Robbins LLP reminds investors that a securities class action has been filed on behalf of persons and entities that purchased or otherwise acquired Hyliion Holdings Corp. (NYSE: HYLN) securities between May 12, 2026 and June 23 2026, inclusive (the “Class Period”). Hyliion is a power generator company whose primary product is the KARNQ Power Module.
The complaint alleges that Hyliion misled investors regarding the viability of its partnership with VFH Holdings LLC.
Investors who suffered significant losses during the Class Period may be eligible to participate in the lawsuit and should contact Robbins LLP for information about becoming lead plaintiff before the October 27, 2026, lead plaintiff deadline.
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Why Was Hyliion Sued?
According to the complaint, on May 12, 2026, Hyliion announced a partnership with VFG Holdings LLC by means of a letter of intent (“LOI”) to provide power modules to support data center applications. After this announcement, Hyliion’s stock appreciated over the next several days. Plaintiff contends that on May 19, 2026, defendants sold significant amounts of Hyliion stock.
Plaintiff alleges that during the class period defendants failed to disclose that:
- to cause rapid price appreciation in Hyliion stock, defendants announced a deal with an entity that was very recently formed and does not appear to have any actual business operations;
- the individual defendants timed the announcement and foregoing price appreciation to insider trade; and
- as a result, defendants’ statements about Hyliion’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Why Did Hyliion’s Stock Drop?
Hyliion stock dropped 16% on Tuesday, June 23, 2026, following the release of a short-seller report from Pelican Way Research that questioned the legitimacy of the agreement with VFG because VFG was incorporated in January 2026, appeared to have only four LinkedIn employees, had a minimal website, and lacked evidence of funding or operating substance sufficient to support an order of that size. Pelican Way also questioned the legitimacy of Jason Green, co-founder and CEO of VFG, and his ability to raise the money needed to pay Hyliion. As the market absorbed the news, the stock declined another 19% to close at $4.92 per share on June 24, 2026.
Who May Be Eligible to Participate in the Hyliion Class Action?
The lawsuit seeks to represent investors who purchased or otherwise acquired Hyliion Holdings Corp. securities between May 12, 2026 and June 23 2026. Investors who suffered losses during that period may have legal rights under the federal securities laws.
What Is a Lead Plaintiff?
The lead plaintiff is a court-appointed investor who represents the interests of all class members throughout the litigation. Serving as lead plaintiff is not required to share in any potential recovery. Investors who do not seek appointment may remain absent class members if the case proceeds and later resolves successfully.
Shareholders who wish to seek appointment as lead plaintiff should contact Robbins LLP before the October 27, 2026 deadline.
Does It Cost Anything to Participate?
No. Robbins LLP represents investors on a contingency fee basis.
Contact Robbins LLP
If you lost money investing in Hyliion Holdings Corp. contact Robbins LLP for more information by submitting an inquiry, emailing attorney Aaron Dumas, Jr., or calling (800) 350-6003.
About Robbins LLP
A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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Contact: Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 (800) 350-6003 |
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SOURCE Robbins LLP
