(Reuters) – Hyzon Motors has gotten a subpoena in the U.S. Filing, the hydrogen fuel-cell truck maker disclosed in a regulatory filing Wednesday, sending its shares down nearly 13% prior to the bell.
The SEC has asked the organization to create documents and knowledge regarding allegations made in a report by short-seller Blue Orca Capital.
Blue Orca in September disclosed a short position in Hyzon and alleged the truck maker’s largest customer Shanghai HongYun was a “fake company” which was formed days before a comment of the deal to provide 500 fuel-cell vehicles.
In October, Hyzon rejected the report and its ceo said the organization doesn't have record from the short seller ending up in the management requesting “any information or clarification” or seeking “to verify its claims.”
Hyzon said Wednesday it was cooperating with the SEC in the investigation.
Blue Orca and the SEC were not immediately available for comment.
Hyzon, that is designing a purpose-built hydrogen-powered truck called SuperH2Truck, went public in July 2022 via a merger having a blank check firm.
