An investigation on behalf of current long term investors in Li-Cycle Holdings Corp. (NYSE:LICY) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 08/30/2022 -- Certain directors of Li-Cycle Holdings Corp. are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in Li-Cycle Holdings Corp. (NYSE: LICY) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: LICY stocks follows a lawsuit filed against Li-Cycle Holdings Corp. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: LICY stocks, concerns whether certain Li-Cycle directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, 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.
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