SHAREHOLDER ALERT: Gross Law Firm is advising shareholders of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. of a Class Action and Deadline for Lead Plaintiff of June 20, 2022 – (LICY)
New York, New York–(Newsfile Corp. – May 16, 2022) – Securities litigation law firm The Gross Law Firm is issuing the following notice on behalf of shareholders of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp..
Shareholders who have purchased shares of LICY during the stated class period are encouraged to contact the company regarding a possible appointment of the lead plaintiff. Appointment as lead plaintiff is not required to participate in any recovery.
COURSE PERIOD: February 16, 2021 to March 23, 2022
ALLEGATIONS: The Complaint alleges that during the Class Period, the Defendants 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 financial working capital for the Company while Traxys attempts to sell Li-Cycle’s 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) as a result, the 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-fka-peridot-acquisition-corp-loss-submission-form/?id=27328&from=5
NEXT STEPS FOR SHAREHOLDERS: Once you have registered as a shareholder who has purchased shares of LICY during the period stated above, you will be enrolled in portfolio tracking software to provide you with status updates throughout the cycle life of the business. The deadline to apply to be a lead applicant is June 20, 2022. There is no cost or obligation for you to participate in this case.
WHY BRUT CABINET D’AVOCATS? Gross Law Firm is a nationally recognized law firm, and our mission is to protect the rights of all investors who have suffered as a result of deception, fraud, and illegal business practices. Gross Law Firm is committed to ensuring that businesses adhere to responsible business practices and engage in good corporate citizenship. The Company seeks redress on behalf of investors who have suffered losses when false and/or misleading statements or omission of material information by a company has caused artificial inflation of the company’s stock. Lawyer advertisement. Prior results do not guarantee similar results.
Gross Law Firm is committed to ensuring that businesses adhere to responsible business practices and engage in good corporate citizenship. The Company seeks redress on behalf of investors who have suffered losses when false and/or misleading statements or omission of material information by a company have caused artificial inflation of the company’s stock. Lawyer advertisement. Prior results do not guarantee similar results.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124297