Hyliion Holdings Investigation by Johnson Fistel

Johnson Fistel, a shareholder rights law firm, is investigating Hyliion Holdings Corp. for potential violations of federal securities laws following a short report by Pelican Way Research. The report, published on June 23, 2026, alleged that Hyliion's non-binding LOI with VFG Tech Holdings for up to 250 KARNO Cores, representing approximately $133 million in potential revenue, lacked commercial validation. Pelican Way claimed that VFG Tech Holdings was incorporated in January 2026, had only four LinkedIn employees, and lacked funding or operating substance. Johnson Fistel is seeking to determine whether Hyliion made false or misleading statements or failed to disclose material information to investors. The investigation is ongoing, and investors who suffered losses are encouraged to contact the firm.