Defendant Name: Hyzon Motors Inc.

Defendant Type: Public Company
SIC Code: 9999
CUSIP: 44951Y10

Initial Case Details

Legal Case Name SEC v. Hyzon Motors Inc., Craig M. Knight, and Max C.B. Holthausen
First Document Date 26-Sep-2023
Initial Filing Format Civil Proceeding
Case Number 23-cv-06553
Allegation Type Issuer Reporting and Disclosure
Federal District Court New York, Western District of New York

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-11
• Rule 13a-13
• Rule 13a-15
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 14(a)
• Rule 14a-9
Securities Act
• Sec 17(a)(1)
• Sec 17(a)(2)
• Sec 17(a)(3)
• Sec 17(a) (Not specified)
Additionally, Max C.B. Holthausen is alleged to have aided and abetted Hyzon Motors Inc. 's violation of Rule 12b-20 of the Exchange Act.
Max C.B. Holthausen is alleged to have aided and abetted Hyzon Motors Inc. 's violation of Sec 13(a) of the Exchange Act.
Max C.B. Holthausen is alleged to have aided and abetted Hyzon Motors Inc. 's violation of Rule 13a-1 of the Exchange Act.
Max C.B. Holthausen is alleged to have aided and abetted Hyzon Motors Inc. 's violation of Rule 13a-11 of the Exchange Act.
Max C.B. Holthausen is alleged to have aided and abetted Hyzon Motors Inc. 's violation of Rule 13a-13 of the Exchange Act.
Max C.B. Holthausen is alleged to have aided and abetted Hyzon Motors Inc. 's violation of Sec 13(b)(2)(A) of the Exchange Act.

Resolutions

First Resolution Date 26-Sep-2023
Headline Total Penalty and Disgorgement $25,000,000

Related Documents:

comp-pr2023-200-01 26-Sep-2023 Complaint
Complaint
The SEC alleged that: "Hyzon Motors, Inc., a publicly traded company that assembles hydrogen fuel cell electric vehicles ("FCEVs"), made false and misleading statements to investors about its customer and supplier relationships and overstated the number of FCEVs it had completed, delivered, and sold."
2023-200 26-Sep-2023 Press Release--Civil Action
SEC Charges Hydrogen Vehicle Co. Hyzon Motors and Two Former Executives for Misleading Investors
On September 26, 2023, the SEC "announced settled fraud charges against Hyzon Motors Inc., an upstate New York-based company that builds hydrogen fuel cell electric vehicles (FCEVs), for misleading investors about its business relationships and vehicle sales before and after a July 2021 merger with a publicly-traded special purpose acquisition company, or SPAC. The SEC also charged Craig M. Knight, Hyzon’s former CEO, and Max C.B. Holthausen, former managing director of Hyzon’s European subsidiary, for their roles in the fraudulent scheme."
LR-25855 27-Sep-2023 Litigation Release
SEC Charges Hydrogen Vehicle Co. Hyzon Motors and Two Former Executives for Misleading Investors
On September 27, 2023, the SEC "announced settled fraud charges against Hyzon Motors Inc., an upstate New York-based company that builds hydrogen fuel cell electric vehicles (FCEVs), for misleading investors about its business relationships and vehicle sales before and after a July 2021 merger with a publicly-traded special purpose acquisition company, or SPAC. The SEC also charged Craig M. Knight, Hyzon's former CEO, and Max C.B. Holthausen, former managing director of Hyzon's European subsidiary, for their roles in the fraudulent scheme."
court_doc5_23-cv-06553 16-Jan-2024 Court Docket Document
Final Judgment as to Defendant Hyzon Motors Inc.
On January 16, 2024, the Court issued a final judgment stating that "Defendant Hyzon Motors Inc. . . . consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."

Other Defendants in Action:

Craig M. Knight
Max C.B. Holthausen