LICY Investors Have Opportunity to Lead Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. Securities Fraud Lawsuit

BENSALEM, Pa., June 13, 2022 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. ("Li-Cycle" or the "Company") (NYSE: LICY).

Class Period: February 16, 2021 – March 23, 2022

Lead Plaintiff Deadline: June 20, 2022

Investors suffering losses on their Li-Cycle investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Li-Cycles 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-Cycles 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' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

SOURCE Law Offices of Howard G. Smith