Hyzon Motors agreed to pay a $25 million Securities and Exchange Commission fine to settle a fraud case over inflated claims about its fuel cell truck business.
Two former executives, including the founding CEO, also agreed to repay compensation received from the company. Two executives agreed to personally pay fines to the securities agency.
According to the SEC’s complaint, Hyzon:
- Misrepresented the status of its business dealings with potential customers and suppliers to suggest significant...
https://www.freightwaves.com/news/hyzon-motors-agrees-to-25m-sec-fine-to-settle-fraud-case