LICY LAWSUIT: The Law Offices of Vincent Wong Notify Investors of a Class Action Lawsuit Involving Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp.
New York, New York--(Newsfile Corp. - May 30, 2022) - The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. ("Li-Cycle") (NYSE: LICY) between February 16, 2021 and March 23, 2022.
If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
Allegations against LICY include that the Company 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.
If you suffered a loss in Li-Cycle 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.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
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