INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (LICY) on Behalf of Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (“Li-Cycle” or the “Company”) (NYSE: LICY) investors concerning the Company’s possible violations of federal securities laws.

On March 24, 2022, Blue Orca Capital published a report which described Li-Cycle as a “near fatal combination of stock promotion, laughable governance, a broken business hemorrhaging cash and highly questionable Enron-like accounting.” The report also alleged, among other things, that Li-Cycle had “diverted $529,902 in investor capital to the family [] of its founders through a series of highly questionable related party payments,” and that its “cash burn is so severe and far above previous guidance” which “will require the Company to raise at least $1 billion . . . in large part by massively diluting current shareholders.” The Report further stated that the Company’s largest customer, Traxys, is not actually a customer, but a “broker or marketing partner that on-sells Li-Cycle’s black mass to end buyers,” and that “not only is Traxys not the end buyer, but the revenue recognized by Li-Cycle is merely Li-Cycle’s initial estimate of the price of the product it expects to receive from the end customer once the final deal is complete.”

On this news, Li-Cycle’s stock fell $0.47, or 5.6%, to close at $7.93 per share on March 24, 2022, thereby injuring investors.

If you purchased Li-Cycle securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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