NEW ORLEANS, Nov. 17, 2021 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have untilNovember 29, 2021 to file lead plaintiff applications in a securities class action lawsuit against Hyzon Motors Inc. (NasdaqGS: HYZN, HYZNW) f/k/a Decarbonization Plus Acquisition Corporation (NasdaqGS: DCRB, DCRBU, DCRBW), if they purchased the Company's securities between February 9, 2021 and September 27, 2021, inclusive (the "Class Period"). This action is pending in the United States District Court for the Western District of New York.
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Hyzon investors should visit us at https://claimsfiler.com/cases/nasdaq-hyzn/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Hyzon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 16, 2021, the merger between the Company and Decarbonization Plus Acquisition Corporation was completed with Decarbonization changing its name to Hyzon Motors Inc., and on July 19, 2021, Hyzon common stock began trading under the ticker symbol "HYZN" and Hyzon warrants began trading under the ticker symbol "HYZNW." Before the merger, Hyzon Motors securities traded under the ticker symbols "DCRBU" for Units, "DCRB" for common stock, and "DCRBW" for warrants.
On September 28, 2021, market analyst Blue Orca Capital reported, among other things, that: (i) "Hyzon's Largest Customer is a Fake-Looking Chinese Shell Entity Formed 3 Days Before Deal Announced"; (ii) "Channel Checks Reveal Next Largest Customer Not Really a Customer"; and (iii) "Phantom Big-Name Customers Suggest Overstated Orders and Financial Projections."
On this news, Hyzon Motors shares plummeted approximately 28%, damaging investors.
The case is Kauffmann v. Hyzon Motors Inc. f/k/a Decarbonization Plus Acquisition Corporation, 21-cv-06612.
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