NEW YORK, May 26, 2022 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (“Li-Cycle” or the “Organization”) (NYSE: LICY) of a class motion securities lawsuit.
Class DEFINITION: The lawsuit seeks to recuperate losses on behalf of Li-Cycle buyers who were adversely afflicted by alleged securities fraud involving February 16, 2021 and March 23, 2022. Stick to the connection down below to get extra data and be contacted by a member of our workforce:
LICY investors may well also call Joseph E. Levi, Esq. by using e mail at [email protected] or by telephone at (212) 363-7500.
Case Facts: The submitted grievance alleges that defendants manufactured false statements and/or hid that: (1) Li-Cycle’s largest buyer, Traxys, is not basically a purchaser, but basically a broker providing performing money economical to the Firm when Traxys attempts to market Li-Cycle’s solution to conclude consumers (2) the Enterprise engaged in remarkably questionable linked get together transactions (3) the Company’s mark-to-design accounting is susceptible to abuse and gave a phony perception of progress (4) a major portion of the Company’s described revenues were being derived from just marking up receivables on items that experienced not been sold (5) the Firm’s gross margins have very likely been unfavorable due to the fact inception (6) the Company will require an further $1 billion of funding to guidance its prepared advancement (which is a figure greater than the Corporation lifted by using the merger) and (7) as a final result, Defendants’ public statements were materially phony and/or deceptive at all related moments.
What is Next? If you experienced a decline in Li-Cycle throughout the appropriate time frame, you have right until June 20, 2022 to request that the Court docket appoint you as lead plaintiff. Your skill to share in any restoration will not require that you provide as a direct plaintiff.
NO Price TO YOU: If you are a course member, you may perhaps be entitled to payment with no payment of any out-of-pocket fees or service fees. There is no price tag or obligation to take part.
WHY LEVI & KORSINSKY: More than the previous 20 several years, the crew at Levi & Korsinsky has secured hundreds of tens of millions of pounds for aggrieved shareholders and developed a monitor file of winning superior-stakes scenarios. Our company has substantial know-how representing investors in advanced securities litigation and a staff of over 70 employees to serve our clientele. For 7 yrs in a row, Levi & Korsinsky has rated in ISS Securities Class Action Services’ Top 50 Report as 1 of the major securities litigation companies 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
Source Levi & Korsinsky, LLP