Li-Cycle Securities Fraud Class Action Law Pending Action: Contact Levi & Korsinsky Before June 20, 2022 to Discuss Your Rights – LICY
New York, New York–(Newsfile Corp. – May 5, 2022) – Levi & Korsinsky, LLP advises investors in Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (“Li-Cycle” or the “Company”) LICY of a securities class action.
The lawsuit on behalf of the Li-Cycle investors was filed in the United States District Court for the Eastern District of New York. The relevant investors purchased or otherwise acquired certain securities of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. between February 16, 2021 and March 23, 2022. Follow the link below for more information and to be contacted by a member of our team:
or contact Joseph E. Levi, Esq. either by email at [email protected] or by phone at (212) 363-7500. There is no cost or obligation for you.
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Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp.
CASE DETAILS: The filed complaint alleges that the defendants misrepresented and/or concealed that: (1) Li-Cycle’s largest customer, Traxys, is not actually a customer, but merely a broker providing working capital to the company while Traxys tries to sell Cycle’s Li-Cycle product to end customers; (2) the Company has engaged in transactions with highly questionable related parties; (3) the Company’s mark-to-model accounting is vulnerable to abuse and gives a false impression of growth; (4) a significant portion of the Company’s reported revenue was derived simply from gross up receivables on products that had not been sold; (5) the gross margins of the Company have probably been negative since its inception; (6) the Company will need an additional $1 billion in funding to support its expected growth (which is more than the Company raised through the merger); and (7) therefore, the defendants’ public statements were materially false and/or misleading at all relevant times.
WHAT THIS MEANS FOR SHAREHOLDERS: If you have suffered a loss in Li-Cycle during the relevant period, you have until June 20, 2022 ask the court to appoint you as the main plaintiff. Your ability to participate in any collection does not require you to serve as the lead plaintiff.
AT NO CHARGE TO YOU: If you are a class member, you may be entitled to compensation without payment of disbursements or fees. Discuss your rights with our legal team at no 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=26876&wire=5 or call 212-363-7500 to discuss the case.
WHY LEVI AND KORSINSKY: Over the past 20 years, the Levi & Korsinsky team 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 in representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven consecutive years, Levi & Korsinsky has ranked in the ISS Securities Class Action Services Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123014