New York, New York--(Newsfile Corp. - August 28, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Hyliion Holdings Corp. ("Hyliion" or the "Company") (NYSE American: HYLN) on behalf of investors that purchased or otherwise acquired Hyliion securities between May 12, 2026 and June 23, 2026 (the "Class Period").

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If you are an investor in Hyliion and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than October 27, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.

On May 12, 2026, according to the complaint, Hyliion announced a partnership with VFG Holdings LLC ("VFG") by means of a letter of intent ("LOI") to provide power modules to support data center applications. Further, the complaint alleges that after this announcement, Hyliion's stock appreciated over the next several days from a closing price of $2.68 per share on May 12, 2026 to close at $4.67 per share on May 15, 2026. According to the complaint, Defendants made false and misleading statements "in order to cause rapid price appreciation in Hyliion stock" and "to insider trade," among other things.

Then, on June 23, 2026, according to the complaint, Pelican Way Research issued a report alleging that the announced LOI with VFG "is a sham because the counterparty (VFG Holdings, or legally VFG Tech Holdings, LLC) does not appear to have any substance." On this news, the complaint alleges the price of Hyliion stock fell $1.27, or 17.2%, on June 23, 2026 and declined an additional $1.18 per share, or 19.3%, on June 24, 2026 to close at $4.92 per share.

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https://www.kaplanfox.com/case/hyliion-holdings-corp-class-action-lawsuit-learn-more-now/

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Source: Kaplan Fox & Kilsheimer LLP