A lawsuit was filed on behalf of investors in Li-Cycle Holdings Corp. (NYSE: LICY) shares over alleged securities laws violations.

San Diego, CA -- (SBWire) -- 11/27/2023 --The Shareholders Foundation announced that an investor in shares of Li-Cycle Holdings Corp. (NYSE: LICY) filed a lawsuit over alleged violations of Federal Securities Laws by Li-Cycle Holdings Corp. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Li-Cycle Holdings Corp. (NYSE: LICY) have certain options and for certain investors are short and strict deadlines running. Deadline: January 08, 2024. NYSE: LICY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Canada based Li-Cycle Holdings Corp. engages in the lithium-ion battery resource recovery and lithium-ion battery recycling business in North America.

On October 23, 2023, before the market opened, Li-Cycle Holdings Corp. announced that it would halt construction work on its Rochester Hub project pending a comprehensive review of the project including construction strategy, even though "engineering and procurement for the project are largely complete." The Company disclosed it had "recently experienced escalating construction costs" and now "expects the aggregate cost for the current scope of the project to exceed its previously disclosed guidance."

Shares of Li-Cycle Holdings Corp. (NYSE: LICY) declined from $6.157 per share in July 2023 to as low as $0.50 per share on November 14, 2023.

The plaintiff claims that between June 14, 2022 and October 23, 2023, the Defendants failed to disclose to investors that the Company's Rochester Hub was experiencing escalating construction costs, that these "escalating construction costs" exceeded the expected aggregate cost of the project, that, as a result, the Company would be forced to temporarily halt construction and reevaluate the construction strategy for the Rochester Hub, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Li-Cycle Holdings Corp. (NYSE: LICY) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.