NEW YORK, March 30, 2022 (Globe NEWSWIRE) — Pomerantz LLP is investigating promises on behalf of traders of Li-Cycle Holdings Corp. (“Li-Cycle” or the “Organization”) LICY. This kind of investors are suggested to call Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation fears regardless of whether Li-Cycle and specific of its officers and/or directors have engaged in securities fraud or other illegal organization methods.
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On March 24, 2022, Blue Orca Cash released a report (the “Report”) characterizing the Organization as “a near deadly blend of stock promotion, laughable governance, a broken enterprise hemorrhaging hard cash, and extremely questionable Enron-like accounting.” In accordance to the Report, “Li-Cycle acknowledges revenues applying an Enron-like mark-to-product accounting gimmick.
Li-Cycle recognizes revenues months prior to the real gross sales of its recycled black mass, dependent on its personal provisional estimate of the upcoming price of the products. This accounting cure is plainly vulnerable to abuse, offering Li-Cycle discretion above its reported revenues. We suspect that less than this framework, LiCycle marks up the price of its receivables on unsold products and solutions and operates the gains by its revenue line.”
On this news, Li-Cycle’s stock cost fell $.47 cents per share, or 5.60% to shut at $7.93 per share on March 24, 2022.
Pomerantz LLP, with workplaces in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as a single of the premier corporations in the places of corporate, securities, and antitrust course litigation. Founded by the late Abraham L. Pomerantz, recognised as the dean of the class action bar, Pomerantz pioneered the industry of securities class steps. Right now, much more than 85 many years afterwards, Pomerantz carries on in the custom he established, preventing for the legal rights of the victims of securities fraud, breaches of fiduciary duty, and company misconduct. The Company has recovered several multimillion-greenback damages awards on behalf of class customers. See www.pomlaw.com.
Make contact with:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
