NEW YORK, NY / ACCESSWIRE / August 14, 2022 / Pomerantz LLP is investigating claims on behalf of investors of Hyzon Motors Inc. ('Hyzon' or the 'Company') (NASDAQ:HYZN). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Hyzon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 4, 2022, in a filing with the U.S. Securities and Exchange Commission, Hyzon disclosed, among other items, that the Company's board had appointed a committee of independent directors to investigate issues regarding revenue recognition timing and internal controls/procedures, which were primarily related to its China operations, as a result of which the Company would be unable to timely file its quarterly report for the second quarter of 2022.
On this news, Hyzon's stock price fell $1.71 per share, or 38.08%, to close at $2.78 per share on August 5, 2022.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP
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