Hyzon Motors Hit With Suit Days After SEC Subpoena

By Humberto J. Rocha (January 14, 2022, 5:35 p.m. EDT) — A shareholder in zero-hydrogen automaker Hyzon launched a derivative suit against the company in New York federal court Friday, claiming it issued misleading data in the future. from its merger with a special purpose acquisition company to inflate its share price.

In his complaint, Zuhair Shurrab alleged that Hyzon Motors and Decarbonization Plus Acquisition Corp. lied about securing alleged deals with big-name companies and fabricated financial information in the months prior to their summer merger to increase the value of the combined company.

“The defendants in the Old Hyzon case aided and abetted decarbonization [defendants’] Breach of the agency’s duty not to disclose the truth…

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