Levi & Korsinsky, LLP announces that a LICY class action lawsuit has been filed on behalf of investors who purchased Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (LICY) securities between February 16, 2021, and March 23, 2022. For more on the LICY Lawsuit please contact us today.  

According to the Li-Cycle lawsuit, throughout the Class Period defendants made 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.

TO LEARN MORE ABOUT THE LICY CLASS ACTION LAWSUIT, CLICK HERE 

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. 

CONTACT: 

Levi & Korsinsky, LLP 

Joseph E. Levi, Esq. 

55 Broadway, 10th Floor 

New York, NY 10006 

jlevi@levikorsinsky.com 

Tel: (212) 363-7500 

Fax: (212) 363-7171 

www.zlk.com