Kaplan Fox & Kilsheimer LLP announced that a class action lawsuit has been filed against Hyliion Holdings Corp. on behalf of investors who purchased or otherwise acquired the company’s securities between May 12, 2026, and June 23, 2026. The complaint alleges that Hyliion made false and misleading statements related to a letter of intent with VFG Holdings LLC to provide power modules for data center applications, allegedly to drive a rapid increase in Hyliion’s stock price and facilitate insider trading. Hyliion shares rose from $2.68 on May 12 to $4.67 on May 15, according to the complaint, before Pelican Way Research alleged on June 23 that the VFG agreement was a sham. The complaint says the stock fell $1.27, or 17.2%, on June 23 and another $1.18, or 19.3%, on June 24, closing at $4.92. Investors must move the court by October 27, 2026, to seek appointment as lead plaintiff, although participation in any potential recovery does not require that role.