SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. of a Class Action Lawsuit and a Lead Plaintiff Deadline of June 20, 2022 - (LICY)
New York, New York--(Newsfile Corp. - May 16, 2022) - The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp..
Shareholders who purchased shares of LICY during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
CLASS PERIOD : February 16, 2021 to March 23, 2022
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued 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.
DEADLINE: June 20, 2022 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/li-cycle-holdings-corp-f-k-a-peridot-acquisition-corp-loss-submission-form/?id=27328&from=5
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of LICY during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is June 20, 2022. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
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New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124297