Johnson Fistel, PLLP is investigating Hyliion Holdings Corp. on behalf of investors who suffered losses, following a short report by Pelican Way Research. The report, published on June 23, 2026, alleged that Hyliion's stock rose significantly after announcing a non-binding letter of intent with VFG Holdings for up to 250 KARNO Cores, representing approximately $133 million in potential revenue. Pelican Way Research claimed that this LOI accounted for roughly one-third of Hyliion's reported $400 million-plus pipeline and questioned whether it provided meaningful commercial validation, further alleging that VFG Tech Holdings, LLC was incorporated in January 2026, appeared to have 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 investigating whether Hyliion complied with federal securities laws, and encourages affected investors to contact the firm.
Hyliion Holdings Corp.Johnson Fistel is investigating Hyliion over potential securities law violations following a short-seller report questioning the validity of a major LOI.