A securities class action alleges Hyliion misled investors about a May 12, 2026 LOI with VFG to supply data-center power modules. The LOI spurred a rally to $4.67 by May 15, followed by a sharp decline after Pelican Way Research questioned its substance. The case could amplify near-term volatility and necessitate additional disclosures.
Berger Montague filed a securities class action alleging Hyliion misled investors about a VFG data-center LOI for up to 250 KARNO Power Modules (50 MW). The suit follows insider selling disclosures and a negative Pelican Way Research report, which contributed to a 17% drop on June 23 and 19% on June 24, 2026.