Defendant Name:
Hyzon Motors Inc.
Defendant Type:
Public Company
Document Reference:
2023-200
Document Details
Legal Case Name
SEC v. Hyzon Motors Inc., Craig M. Knight, and Max C.B. Holthausen
Document Name
SEC Charges Hydrogen Vehicle Co. Hyzon Motors and Two Former Executives for Misleading Investors
Document Date
26-Sep-2023
Document Format
Civil Proceeding
Case Number
23-cv-06553
Federal District Court
New York, Western District of New York
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Monetary Penalties:
Civil Penalty
Individual:
$25,000,000.00
Shared:
Other Defendants in Action:
