Hyson Motors (HYZN) Sales Misrepresenting Case

In August 2022, Hyson reported that some financial statements should no longer be relied upon.
$HYZN plunged 38% and lost $423M of its capitalization, seriously damaging investors. 
In September 2023, The SEC reached a $25M+ settlement with Hyzon and its executives accused of misrepresenting sales. 
Investors may have reasons to suspect Hyson  of misleading shareholders about the true operational and financial results
On August 4, 2022, Hyson Motors (HYZN) filed with the SEC a report which stated that: 
 "the Audit Committee of the Board of Directors of the Company, based on the recommendation of management, determined that the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, and Quarterly Report on Form 10-Q for the period ended March 31, 2022, should no longer be relied upon; 
the Company has determined to withdraw all financial and operational guidance it has previously issued for all periods, including for the year ended December 31, 2022, and subsequent years; 
the Company’s Board of Directors appointed a committee of independent board members to investigate, with the assistance of independent outside counsel and other advisors, certain issues regarding revenue recognition timing and internal controls and procedures, primarily pertaining to its China operations; 
 the Company has identified operational inefficiencies at Hyzon Motors Europe B.V. which will have a material adverse effect on the Company’s ability to produce and sell vehicles. As a result, the Company has determined to restructure its European operations.”
On this news, $HYZN plunged 38% and lost $423 million of its capitalization, seriously damaging investors.

On September 27, 2023, The SEC announced it reached an over $25 million settlement with Hyzon and some of its executives accused of misrepresenting sales to boost $HYZN's valuation amid its merger with a SPAC.

Taking all facts into account, Investors have reasons to suspect Hyson and its executives of misleading shareholders about the true operational and financial results of the business.

Case Status

Attorney Investigation

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management,

Service Provider

Security Type

Stocks

Trade Direction

Long

Shock Event Date

08/05/2022

Hyson Motors (HYZN) Sales Misrepresenting Case

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