LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (“Li-Cycle” or the “Company”) (NYSE: LICY) investors concerning the Company’s possible violations of the federal securities laws.
“will require the Company to raise at least $1 billion . . . in large part by massively diluting current shareholders.”
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If you suffered a loss on your Li-Cycle investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/li-cycle-holdings-corp/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On March 24, 2022, Blue Orca Capital published a report which described Li-Cycle as a “near fatal combination of stock promotion, laughable governance, a broken business hemorrhaging cash and highly questionable Enron-like accounting.” The report also alleged, among other things, that Li-Cycle had “diverted $529,902 in investor capital to the family [] of its founders through a series of highly questionable related party payments,” and that its “cash burn is so severe and far above previous guidance” which “will require the Company to raise at least $1...
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