Lawsuit filed for certain investors who lost money with shares of Li-Cycle Holdings Corp. (NYSE: LICY)

An investor, who purchased shares of Li-Cycle Holdings Corp. (NYSE: LICY), filed a lawsuit over alleged violations of Federal Securities Laws by Li-Cycle Holdings Corp. in connection with certain allegedly false and misleading statements.

Investors who purchased a significant amount of shares of Li-Cycle Holdings Corp. (NYSE: LICY) between June 14, 2022 and October 23, 2023, have certain options and for certain investors are short and strict deadlines running. Deadline: January 08, 2024. NYSE: LICY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Canada based Li-Cycle Holdings Corp. engages in the lithium-ion battery resource recovery and lithium-ion battery recycling business in North America. Li-Cycle Holdings Corp. reported that its annual Total Revenue rose from $7.3 million for the 12 months period that ended on October 31, 2021, to $13.4 million for the 12 months period that ended on October 31, 2022, and that its Net Loss over those respective time periods declined from $226.55 million to $53.6 million.

On October 23, 2023, before the market opened, Li-Cycle Holdings Corp. announced that it would halt construction work on its Rochester Hub project pending a comprehensive review of the project including construction strategy, even though "engineering and procurement for the project are largely complete." The Company disclosed it had "recently experienced escalating construction costs" and now "expects the aggregate cost for the current scope of the project to exceed its previously disclosed guidance."

Shares of Li-Cycle Holdings Corp. (NYSE: LICY) declined from $6.157 per share in July 2023 to as low as $1.05 per share on October 24, 2023.

According to the complaint the plaintiff alleges on behalf of purchasers of Li-Cycle Holdings Corp. (NYSE: LICY) common shares between June 14, 2022 and October 23, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 14, 2022 and October 23, 2023, the Defendants failed to disclose to investors that the Company's Rochester Hub was experiencing escalating construction costs, that these "escalating construction costs" exceeded the expected aggregate cost of the project, that, as a result, the Company would be forced to temporarily halt construction and reevaluate the construction strategy for the Rochester Hub, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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

Contact:
Michael Daniels
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.