Hyliion Holdings Corp. (NYSE: HYLN) Securities Fraud Class Action

The Hyliion Holdings Corp. securities fraud class action lawsuit was filed on behalf of those who purchased or otherwise acquired Hyliion Holdings Corp. (“Hyliion”) (NYSE: HYLN) common stock between May 12, 2026 and June 23, 2026, inclusive (the “Class Period”). Captioned Draftz v. Hyliion Holdings Corp., No. 26-cv-02375 (W.D. Tex.), the Hyliion class action lawsuit alleges that Hyliion and/or certain of its officers and/or directors violated federal securities laws by making false or misleading statements and/or omitted to disclose material information.

If you lost money as a result of your Hyliion and want to find out more about this action and your rights, fill out the form on this page or contact attorney Jonathan Naji, Esq. of KTMC by calling (484) 270-1453 or via e-mail at [email protected].

COMPLAINT ALLEGATION SUMMARY:
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) despite touting the prospects of Hyliion’s partnership with VFG Holdings, LLC (“VFG”), VFG was only a months-old company and did not appear to have any actual business operations; (2) certain Defendants allegedly timed the announcement of the deal with VFG to insider trade; and (3) as a result of the foregoing, Defendants’ statements about the company’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?
On June 23, 2026, Pelican Way Research published a report titled “Hyliion: A Glorified Science Project Who Has Continuously Failed to Meet Expectations And Is Now Throwing Around A Meaningless Deal.” The report detailed, among other things, that the partnership and Letter of Intent between Hyliion and VFG “is a sham because the counterparty (VFG Holdings, or legally VFG Tech Holdings, LLC) does not appear to have any substance.” Some of the evidence it cited was the fact that VFG’s “website contains just two pages, a home page and a contact form, with no listed address,” and its co-founder appeared to be running multiple companies at once, with one venture being worth only $2.8 million. Pelican Way stated that because of this, “we find it unlikely he could raise the hundreds of millions needed to pay Hyliion.”

On this news, the price of Hyliion’s stock fell more than 17% on June 23, 2026. The next day, Hyliion’s stock continued to fall more than 19%.

THE LEAD PLAINTIFF PROCESS:
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Hyliion common stock during the Class Period to seek appointment as lead plaintiff in the Hyliion class action lawsuit. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.