According to the Complaint, Hyzon Motors Inc. f/k/a Decarbonization Plus Acquisition Corporation purports to be a leader in fuel cell electric mobility with an exclusive focus on the commercial vehicle market, with a near-term focus on back to base (captive fleet) operations.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Hyzon was misrepresenting the nature of its “customer” contracts and severely embellished its “deals” and “partnerships” with customers; (2) Hyzon could not deliver its announced vehicles in 2021 on its stated timeline; and (3) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

On December 14, 2021, the Court issued an Order consolidating cases. All future docketing was ordered to be done in the lead case 21-CV-06612. The Court also issued a separate Order appointing Lead Plaintiff and Counsel.

On March 21, 2022, Lead Plaintiff filed a Consolidated Amended Complaint. Defendants filed a Motion to Dismiss the Consolidated Amended Complaint on May 20. On August 17, the Court approved the parties' stipulation to terminate the Motion to Dismiss and granted leave for Lead Plaintiff to amend the Complaint.

Lead Plaintiff filed a second Amended Consolidated Complaint on September 16, 2022. On June 23, 2023, Lead Plaintiff filed a third Amended Consolidated Complaint. Defendants filed Motions to Dismiss the third Amended Consolidated Complaint on September 13.

On July 14, 2025, the Court issued an Order granting in part and denying in part Defendants' Motions to Dismiss.