WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Tuesday it settled fraud charges against Hyzon Motors of misleading investors.
The company, a maker of hydrogen fuel cell electric vehicles, was charged with misleading investors about its business relationships and vehicle sales before and after a July 2021 merger with a publicly traded special purpose acquisition company, or SPAC.
The SEC also charged Craig Knight, Hyzon’s former CEO, and Max Holthausen, former managing director of Hyzon’s European subsidiary, for their roles in the fraudulent scheme, it said in a statement.
(Reporting by Kanishka Singh in Washington; Editing by Leslie Adler)
