Berger Montague (Canada) PC, a Toronto-based law firm that focuses on representing investors in cross-border shareholder disputes, is investigating Li-Cycle Holdings Corp. (“LICY” or Company”). LICY is an Ontario company that is based in Toronto, Ontario, lists its securities on the New York Stock Exchange with the symbol “LICY” and subject to the disclosure rules created by the Ontario Securities Act. (NYSE: “LICY”).
On October 23, 2023, when LICY released a statement that it would halt construction of its Rochester Hub Project pending a comprehensive review, etc. LICY blamed the decision on “escalating construction costs.” On November 13, 2023, LICY published its most quarterly results ending September 30, 2023. It reported that it has spent $92.2 million on the Rochester Hub Project and announced that it experienced challenges in closing various arrangements “due to complexities in bringing them together with the planned DOE Loan.” Additionally, and despite bullish statements during May and August 2023, LICY announced that the budget of $560 million has now increased to over $850 million to $1 billion (all within a matter of 2-months).
If you purchased shares of LICY between February 23 and November 10, 2023, and would like to know more about our investigation or the pending shareholder class action, please contact us at [email protected].
Berger Montague (Canada) PC is one of the leading Canadian law firms that represent investors in shareholder class actions where the corporate defendant lists securities cross-border and in Europe. Berger Montague (Canada) PC proudly represents investors across Canada and Europe that purchase securities on Canadian, English, German, and U.S. stock exchanges.