Following financial concerns at Hyzon Motors, a US law firm has said it is now investigating potential claims relating to securities law violations and unlawful business practices on behalf of Hyzon shareholders.
According to San Francisco-based Schubert Jonckheer & Kolbe (SJK) LLP a class action lawsuit filed in the Delaware Court of Chancery alleges that the proxy statement issued by Decarbonisation Plus Acquisition Corporation (DPAC) to obtain shareholder approval of the de-SPAC transaction contained false and misleading information about Hyzon’s project vehicle sales and revenues.
In a statement, SJK said the hydrogen-powered truck manufacturer was formed “in or about” July 2021, in a de-SPAC (merger to go public) transaction, between Hyzon Motors, Inc. and DPAC.
Read more: Hyzon Motors to go public through $2.7bn SPAC deal
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