PR Newswire
NEW YORK, June 14, 2022
NEW YORK, June 14, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (NYSE: LICY) alleging that the Company violated federal securities laws.
Class Period: February 16, 2021 to March 23, 2022
Lead Plaintiff Deadline: June 20, 2022
No obligation or cost to you.
Learn more about your recoverable losses in LICY:
https://www.kleinstocklaw.com/pslra-1/li-cycle-holdings-corp-loss-submission-form?id=28427&from=4
Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. NEWS - LICY NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. made materially false and/or misleading statements and/or failed to disclose 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 YOU AS A SHAREHOLDER: If you have suffered a loss in Li-Cycle you have until June 20, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Li-Cycle securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the LICY lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/li-cycle-holdings-corp-loss-submission-form?id=28427&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com
SOURCE The Klein Law Firm
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