Robbins LLP is Investigating Allegations that Hyliion Holdings Corp. Misled Investors Regarding its Relationship with VFG Holdings LLC

Robbins LLP informs 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.

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:

(1) 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;

(2) the individual defendants timed the announcement and foregoing price appreciation to insider trade; and

(3) 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 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. Submit a form for information.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.