In this paper, a 4D Lorenz-type multistable hyperchaotic system with a curve of equilibria is investigated by using differential geometry method, i.e. with KCC-theory. Due to the deviation curvature tensor and its eigenvalues, the curve of equilibria of this hyperchaotic system is proved analytically to be Jacobi unstable under a certain parameter condition, and a periodic orbit of this system is proved numerically to be also Jacobi unstable. Furthermore, the dynamics of contravariant vector field near the curve of equilibria and the periodic orbit are studied, respectively, and their results comply absolutely with the above analysis of Jacobi stability.