NATIONALLY RANKED ROSEN LAW FIRM Encourages Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. Investors with Losses to Inquire About Securities Class Action Investigation – LICY, PDAC


NEW YORK, April 19, 2022 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (NYSE: LICY, PDAC) resulting from allegations that Li-Cycle may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Li-Cycle securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=4885 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On March 24, 2022, Blue Orca Capital published a report alleging that the Company is “a near fatal combination of stock promotion, laughable governance, a broken business hemorrhaging cash, and highly questionable Enron-like accounting.” According to the report, “Li-Cycle recognizes revenues using an Enron-like mark-to-model accounting gimmick.”

The Report further alleges that “Li-Cycle recognizes revenues months prior to the actual sales of its recycled black mass, based on its own provisional estimate of the future value of the product. This accounting treatment is plainly vulnerable to abuse, giving Li-Cycle discretion over its reported revenues. We suspect that under this framework, LiCycle marks up the value of its receivables on unsold products and runs the gains through its revenue line.”

On this news, Li-Cycle’s stock price fell $0.47 cents per share, or 5% to close at $7.93 per share on March 24, 2022.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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

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Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        lrosen@rosenlegal.com
        pkim@rosenlegal.com
        cases@rosenlegal.com
        www.rosenlegal.com