NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 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 January 23, 2021 and September 27, 2021, inclusive (the “Class Period”). These actions are pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Hyzon Motors and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-hyzn/ to learn more. If you wish to serve as a lead plaintiff in these class actions by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by November 29, 2021.
About the Lawsuits
Hyzon Motors 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 first-filed case is Kauffmann v. Hyzon Motors Inc. f/k/a Decarbonization Plus Acquisition Corporation, 21-cv-06612. A subsequently filed case, Miller v. Hyzon Motors Inc. f/k/a Decarbonization Plus Acquisition Corporation, 21-cv-06695, expanded the class period.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
