Johnson Fistel, PLLP is investigating Hyliion Holdings Corp. on behalf of investors who suffered losses, following a short-seller report that questioned the substance of a key deal. The report by Pelican Way Research alleged that a non-binding letter of intent with VFG Holdings for up to 250 KARNO Cores, representing approximately $133 million in potential revenue, accounted for roughly one-third of Hyliion’s reported $400 million-plus pipeline. It further claimed that VFG Tech Holdings, LLC was incorporated in January 2026, had only four LinkedIn employees, a minimal website, and lacked evidence of funding or operating substance to support an order of that size. Johnson Fistel is examining whether Hyliion complied with federal securities laws, and encourages affected investors to contact the firm.
Hyliion Holdings Corp.Short-seller report alleges key deal lacks substance, prompting securities law investigation.
Alleged lack of operating substance and funding to support order, questioning deal's validity.