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Li-Cycle Holdings Corp. Class Action Lawsuit LICY | Deadline june 20, 2022

Li-Cycle Holdings Corp. Class Action Lawsuit (LICY Lawsuit)

Contact The Gross Law Firm to inquire about your recovery opportunities.

What is the LICY lawsuit about?

The complaint filed against Li-Cycle Holdings Corp. fka Peridot Acquisition Copr. (NASDAQ: LICY) alleges that the company violated federal securities laws by making false and/or misleading statements and/or failing 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).

(7) As a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

Shareholders have until June 20, 2022 to request that the court appoint them lead plaintiff.

To receive more information, please fill out the form.

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