Deadline on June 20th coming up in Lawsuit for Investors in shares of Li-Cycle Holdings Corp. (NYSE: LICY)

A deadline is coming up on June 20, 2022 in the lawsuit filed for certain investors of Li-Cycle Holdings Corp. (NYSE: LICY).

Investors who purchased shares of Li-Cycle Holdings Corp. (NYSE: LICY) have certain options and there are strict and short deadlines running. Deadline: June 20, 2022. NYSE: LICY stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges on behalf of purchasers of Li-Cycle Holdings Corp. (NYSE: LICY) common shares between February 16, 2021 and March 23, 2022, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 16, 2021 and March 23, 2022, the defendants 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, that the Company engaged in highly questionable related party transactions, that the Company's mark-to-model accounting is vulnerable to abuse and gave a false impression of growth, that a significant portion of the Company's reported revenues were derived from simply marking up receivables on products that had not been sold, that the Company's gross margins have likely been negative since inception, that 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 that as a result, defendants' public statements were materially false and/or misleading at all relevant times

Those who purchased shares of Li-Cycle Holdings Corp. (NYSE: LICY) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.