Financial News
Ongoing Investigation Alert: The Schall Law Firm Encourages Investors in Li-Cycle Holdings Corp. with Losses of $100,000 to Contact the Firm
Los Angeles, CA - (NewMediaWire) - April 19, 2022 - The
Schall Law Firm, a national shareholder rights litigation firm, announces that
it is investigating claims on behalf of investors of Li-Cycle Holdings Corp. (“Li-Cycle” or “the Company”) (NYSE: LICY) for violations of the securities laws.
The
investigation focuses on whether the Company issued false and/or misleading
statements and/or failed to disclose information pertinent to investors.
Li-Cycle is the subject of a research report published by Blue Orca Capital on
March 24, 2022. According to the report, the Company is “a near fatal
combination of stock promotion, laughable governance, a broken business
hemorrhaging cash, and highly questionable Enron-like accounting.” The report
alleges that, “Li-Cycle recognizes revenues using an Enron-like mark-to-model
accounting gimmick. 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, Li-Cycle marks up the value of its receivables on unsold
products and runs the gains through its revenue line.” Based on this report,
shares of Li-Cycle fell by 5.6% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The
Schall Law Firm
Brian Schall, Esq.
310-301-3335
View the original release on www.newmediawire.com
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