NYSE: LICY

Li-Cycle Holdings Corp.

Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (NYSE: LICY, PDAC) between February 16, 2021 and March 23, 2022, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Li-Cycle investors under the federal securities laws. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 21, 2022.

If you purchased Li-Cycle securities between February 16, 2021 and March 23, 2022 and would like to join the action, please click “Join This Class Action.”

Class Period:February 16, 2021 through March 23, 2022
If you purchased Li-Cycle securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • Li-Cycle’s largest customer, Traxys North America LLC, 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;
  • the Company engaged in highly questionable related party transactions;
  • the Company’s mark-to-model accounting is vulnerable to abuse and gave a false impression of growth;
  • a significant portion of the Company’s reported revenues were derived from simply marking up receivables on products that had not been sold;
  • the Company’s gross margins have likely been negative since inception;
  • 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
  • as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp.
Stock Symbol: LICY
Class Period: February 16, 2021 through March 23, 2022
Court: United States District Court for the Eastern District of New York

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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