Hyliion Holdings Corp. (NYSE: HYLN)

This lawsuit is for anyone who acquired securities in Hyliion Holdings Corp. (NYSE: HYLN) from May 12, 2026 through June 23, 2026.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by announcing a business deal with a business that was very recently formed and does not appear to have any actual business operations for the purpose of artificially increasing the price of the Company’s shares so that the Company’s CEO, Thomas Healy, and the Company’s CFO, Jon Panzer, could sell their personal shares at the artificially inflated price.

On June 23, 2026, Pelican Way Research issued a report entitled “Hyliion: A Glorified Science Project Who Has Continuously Failed to Meet Expectations And Is Now Throwing Around A Meaningless Deal.” The report alleged that a recent letter of intent the Company announced with VFG Holdings, LLC (“VFG”) for a major deal “is a sham” because VFG “does not appear to have any substance,” has a website that “contains just two pages” and appears to only have four employees. The report called into question whether VFG is an “AI data center integrator” capable of the deal previously announced by the Company. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Hyliion Holdings Corp. (NYSE: HYLN) from May 12, 2026 through June 23, 2026 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.