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ROSEN, A TOP RANKED LAW FIRM, Encourages Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. Investors with Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – LICY, PDAC

NEW YORK (ClassActionDaily) The Rosen Law Firm released the following information today:

WHY: Rosen Law Firm, a global investor rights law firm, announces it has filed a class-action lawsuit on behalf of purchasers of the securities of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (NYSE: LICY, PDAC) between February 16, 2021, and March 23, 2022, inclusive (the “Class Period”).  A class-action lawsuit has already been filed.  If you wish to serve as lead plaintiff, you must move the Court no later than June 20, 2022.

SO WHAT: If you purchased Li-Cycle securities during the Class Period, you may be entitled to compensation without payment of any out-of-pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Li-Cycle 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.  A class-action lawsuit has already been filed.  If you wish to serve as lead plaintiff, you must move the Court no later than June 20, 2022.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) 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; (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’ public statements were materially false and/or misleading at all relevant times.  When the true details entered the market, the lawsuit claims that investors suffered damages.

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.  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 a 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.

To join the Li-Cycle 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.

No Class Has Been Certified.  Until a class is certified, you are not represented by counsel unless you retain one.  You may select counsel of your choice.  You may also remain an absent class member and do nothing at this point.  An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.