HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages LICY Investors Who Suffered Substantial Losses to Contact Firm’s Attorneys
SAN FRANCISCO, Dec. 11, 2023 (GLOBE NEWSWIRE) — Hagens Berman urges Li-Cycle Holdings Corp. (NYSE: LICY) investors who suffered substantial losses to submit your losses now.
Class Period: June 14, 2022 – Oct. 23, 2023
Lead Plaintiff Deadline: Jan. 8, 2024
Visit: www.hbsslaw.com/investor-fraud/LICY
Contact An Attorney Now: LICY@hbsslaw.com
844-916-0895
Li-Cycle Holdings Corp. (NYSE: LICY) Securities Fraud Class Action:
The litigation focuses on whether Li-Cycle misled investors about the development of the Rochester Hub facility, said Reed Kathrein, the Hagens Berman partner leading the investigation.
The complaint alleges that Li-Cycle mispresented and concealed that: (1) the Rochester Hub was experiencing escalating construction costs; (2) these escalating costs exceeded the expected aggregate cost of the project; and (3) as a result, the company would be forced to temporarily halt construction and reevaluate the Rochester Hub construction strategy.
Investors learned the truth on Oct. 23, 2023, when Li-Cycle announced that it has paused construction at the Rochester Hub. The company claimed that construction costs have risen, and building will not be resumed until the company completes a strategic review of the project
This news drove the price of Li-Cycle shares down $1.04, or about 45%, on Oct. 23, 2023.
Moreover, analysts such as Henn Capital Insight reportedly noted that Li-Cycle’s pausing of the hub project raises serious doubts about Li-Cycle’s ability as a going concern as its envisaged business model unravels.
If you invested in Li-Cycle Holdings and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Li-Cycle case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Li-Cycle Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email LICY@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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Contact:
Reed Kathrein, 844-916-0895
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