Rosen Law Firm and Johnson Fistel, PLLP said on Aug. 11, 2026 that they are investigating potential securities-law claims involving Hyliion Holdings Corp. (NYSE American: HYLN) after a June 23 short-seller report by Pelican Way Research questioned the substance of Hyliion's non-binding LOI with VFG Holdings for up to 250 KARNO Cores. Johnson Fistel said the report argued the proposed transaction represented about $133 million in potential revenue and roughly one-third of Hyliion's reported pipeline of more than $400 million, while alleging that VFG Tech Holdings, LLC lacked the scale, funding and operating footprint to support such an order. Rosen linked the allegations to an Investing.com article that said Hyliion shares fell 17.2% on June 23 after the report, following an earlier rally of about 150% tied to the customer agreement.