Berger Montague announced a class action lawsuit against Hyliion Holdings Corp. on behalf of investors who purchased or acquired Hyliion securities from May 12 through June 23, 2026. The action questions whether Hyliion and certain officers misled investors about the significance and prospects of a purported strategic partnership with VFG Holdings, LLC. The May 12 announcement involved a non-binding letter of intent to deploy up to 250 KARNO Power Modules, representing approximately 50 megawatts of power-generation capacity, at VFG data-center sites over five years. Hyliion disclosed in SEC (U.S. securities regulator) filings on May 19 that CEO Thomas Healy, CFO Jon Panzer and other insiders had sold shares under 10b5-1 trading plans. Pelican Way Research later alleged that VFG was a sham, citing its January 2026 formation, apparent staff of about four people, limited website, lack of a listed address and minimal LinkedIn activity. Hyliion shares fell 17% on June 23 and another 19% on June 24. Investors seeking lead plaintiff appointment must apply by October 27, 2026, while other class members may still participate in any recovery without applying by that date.