NEW YORK, NY / ACCESSWIRE / May 19, 2022 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (NYSE:LICY)
Investors Affected : February 16, 2021 - March 23, 2022
A class action has commenced on behalf of certain shareholders in Li-Cycle Holdings Corp f/k/a Peridot Acquisition Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Li-Cycle's largest customer, Traxys, is not actually a customer, but merely a broker providing working capital financial to the Company while Traxys tries to sell Li-Cycle's product to end customers; (2) the Company engaged in highly questionable related party transactions; (3) the Company's mark-to-model accounting is vulnerable to abuse and gave a false impression of growth; (4) a significant portion of the Company's reported revenues were derived from simply marking up receivables on products that had not been sold; (5) the Company's gross margins have likely been negative since inception; (6) the Company will require an additional $1 billion of funding to support its planned growth (which is a figure greater than the Company raised via the merger); and (7) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/li-cycle-holdings-corp-f-k-a-peridot-acquisition-corp-loss-submission-form/?id=27491&from=1
Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. (NASDAQ:ARQQ)
This lawsuit is on behalf of: (i) all persons or entities who purchased or otherwise acquired Arqit securities between September 7, 2021 and April 18, 2022, inclusive; and/or (ii) all holders of Centricus securities as of the record date for the special meeting of shareholders held on August 31, 2021 to consider approval of the merger between Arqit and Centricus (the "Merger") and entitled to vote on the Merger.
A class action has commenced on behalf of certain shareholders in Arqit Quantum Inc f/k/a Centricus Acquisition Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Arqit's proposed encryption technology would require widespread adoption of new protocols and standards for telecommunications; (2) British cybersecurity officials questioned the viability of Arqit's proposed encryption technology in a meeting in 2020; (3) the British government was not an Arqit customer but, rather, providing grants to Arqit; (4) Arqit had little more than an early-stage prototype of its encryption system at the time of the Merger; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/arqit-quantum-inc-f-k-a-centricus-acquisition-corp-loss-submission-form/?id=27491&from=1
Amazon.com, Inc. (NASDAQ:AMZN)
Investors Affected: February 1, 2019 - April 5, 2022
A class action has commenced on behalf of certain shareholders in Amazoncom, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Amazon engaged in anticompetitive conduct in its private-label business practices, including giving Amazon products preference over those of its competitors and using third-party sellers' non-public data to compete with them; (ii) the foregoing exposed Amazon to a heightened risk of regulatory scrutiny and/or enforcement actions; (iii) Amazon's revenues derived from its private-label business were in part the product of impermissible conduct and thus unsustainable; and (iv) as a result, the defendants' public statements throughout the class period were materially false and/or misleading.
Shareholders may find more information at https://securitiesclasslaw.com/securities/amazon-com-inc-loss-submission-form/?id=27491&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
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New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
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