New York – September 11, 2026 -- Wolf Haldenstein Adler Freeman & Herz LLP has filed a securities class action against Hyliion Holdings Corp. (NYSE: HYLN) in the U.S. District Court for the Western District of Texas, covering investors who purchased shares between May 12, 2026 and June 23, 2026.
Complaint targets Hyliion's disclosures on the VFG Holdings power deal
The lawsuit alleges Hyliion overstated the substance of its May 12, 2026 non-binding Letter of Intent with VFG Holdings, which outlined up to 250 KARNO Cores and 50 MW of potential data-center power deployments over five years. Plaintiffs claim the company presented the VFG relationship and its broader commercial pipeline more favorably than the underlying facts supported. HYLN shares rose sharply following the May 12 announcement.
Pelican Way Research report triggers a two-day, 36% stock decline
On June 23, 2026, Pelican Way Research published a report questioning whether VFG had the operational and financial capacity to execute the proposed deal. Hyliion shares fell $1.27, or 17.2%, that day, then dropped a further $1.18, or 19.3%, on June 24, 2026, closing at $4.92 per share.
Lead plaintiff deadline set for October 27, 2026
Investors who bought Hyliion shares during the class period and suffered losses have until October 27, 2026 to seek lead plaintiff status. Wolf Haldenstein, founded in 1888, is soliciting affected investors and individuals with relevant information to support the case.