Robbins LLP is investigating Hyliion Holdings Corp. (AMEX: HYLN) over potential securities-law violations and breaches of fiduciary duties by certain officers and directors. The inquiry follows Hyliion’s June 23, 2026 stock decline of 16% after Pelican Way Research questioned the legitimacy and commercial significance of a non-binding letter of intent with VFG Holdings for up to 250 KARNO Cores, representing approximately $133 million in potential revenue. The agreement had helped drive Hyliion’s valuation up by approximately 150% and represented roughly one-third of the company’s reported $400 million-plus pipeline, according to the report. Pelican Way alleged that VFG Tech Holdings, LLC, which it identified as the counterparty, was incorporated in January 2026, appeared to have four LinkedIn employees, maintained a minimal website and lacked evidence of the funding or operating substance needed to support an order of that size. Hyliion describes itself as a power generator company whose primary product is the KARNQ Power Module. The investigation also highlights company filings showing $8 million in cumulative revenue from fiscal 2021 through fiscal 2025, compared with $15.4 million in total compensation paid to CEO Thomas Healy over the same period. Johnson Fistel, PLLP separately announced an investigation on Aug. 20, 2026, concerning the same allegations. Investors may contact Robbins LLP at no cost and on a contingency-fee basis.