SEC Charges Hydrogen Vehicle Co. Hyzon Motors and Two Former Executives for Misleading Investors
Retrieved on:
Tuesday, September 26, 2023
The SEC also charged Craig M. Knight, Hyzon’s former CEO, and Max C.B.
Key Points:
- The SEC also charged Craig M. Knight, Hyzon’s former CEO, and Max C.B.
- According to the SEC’s complaint, Hyzon misrepresented the status of its business dealings with potential customers and suppliers to create the false appearance that significant sales transactions were imminent.
- The complaint alleges that Hyzon also falsely stated that it had delivered its first FCEV in July 2021, even going as far as posting a misleading video of the vehicle purportedly running on hydrogen, when the vehicle was not equipped to operate on hydrogen power.
- “The defendants allegedly violated this principle by misleading investors about virtually every aspect of Hyzon’s business.