LICY ALERT: Klein Law Firm

NEW YORK, June 7, 2022 /PRNewswire/ — Klein Law Firm announces that a class action lawsuit 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 at March 23, 2022
Lead Applicant Deadline: June 20, 2022
No obligation or cost to you.

Learn more about your recoverable losses in LICY:

Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp.

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 to society as 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 require a supplement $1 billion funding to support its expected growth (which is a higher number than the Company raised through the merger); and (7) therefore, the defendants’ public statements were materially false and/or misleading at all relevant times.

WHAT THIS MEANS FOR YOU AS A SHAREHOLDER: If you suffered a loss in Li-Cycle, you have up to June 20, 2022 ask the court to obtain the status of principal plaintiff. Your ability to participate in any collection does not require you to serve as the lead plaintiff.

AT NO CHARGE TO YOU: If you have purchased Li-Cycle titles during the relevant period, you may be entitled to compensation without payment of reimbursable costs.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For more information on the LICY trial, please contact J. Klein, Esq. by phone at 212-616-4899 or click on this link:

J. Klein, Esq. represents investors and participates in securities litigation involving financial fraud across the country. Klein Law Firm is a litigation firm with experience in a wide range of areas, including securities law, corporate finance and commercial litigation. Since 2011, our experienced lawyers have achieved superior results for our clients with a personalized approach. Lawyer advertisement. Prior results do not guarantee similar results.

J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th floor
New York, NY 10118
[email protected]
Telephone: (212) 616-4899

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SOURCE Klein Law Firm