Li-Cycle Securities Fraud Class Action Lawsuit Pending: Contact Levi & Korsinsky Before June 20, 2022 to Discuss Your Rights – LICY
New York, NY–(Newsfile Corp. – May 9, 2022) – Levi & Korsinsky, LLP notifies investors in Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (“Li-Cycle” or the “Company”) LICY of a class action securities law suit.
The lawsuit on behalf of Li-Cycle investors has been commenced in the United States District Court for the Eastern District of New York. Affected investors purchased or otherwise acquired certain Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. securities between February 16, 2021 and March 23, 2022. Follow the link below to get more information and be contacted by a member of our team:
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500. There is no cost or obligation to you.
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Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. NEWS – LICY NEWS
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Li-Cycle’s largest customer, Traxys, is not actually a customer, but merely a broker providing working capital financial to the Company while Traxys tries to sell Li-Cycle’s product to end customers; (2) the Company engaged in highly questionable related party transactions; (3) the Company’s mark-to-model accounting is vulnerable to abuse and gave a false impression of growth; (4) a significant portion of the Company’s reported revenues were derived from simply marking up receivables on products that had not been sold; (5) the Company’s gross margins have likely been negative since inception; (6) the Company will require an additional $1 billion of funding to support its planned growth (which is a figure greater than the Company raised via the merger); and (7) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Li-Cycle during the relevant timeframe, you have until June 20, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/li-cycle-holdings-corp-loss-submission-form?prid=26990&wire=5 or call 212-363-7500 to discuss the case.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123264
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