NEW YORK, NY / ACCESSWIRE / May 30, 2022 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.
Volta Inc. (NYSE:VLTA)
If you suffered a loss, contact us at:https://www.wongesq.com/pslra-1/volta-inc-loss-submission-form?prid=27859&wire=1
Lead Plaintiff Deadline: May 31, 2022
Class Period: August 2, 2021 - March 28, 2022
Allegations against VLTA include that: (1) Volta had improperly accounted for restricted stock units issued in connection with the business combination of Volta Industries, Inc. ("Legacy Volta") and Tortoise Acquisition Corp. II; (2) as a result, the Company had understated its net loss for third quarter 2021; (3) there were material weaknesses in the Company's internal control over financial reporting that resulted in a material error; (4) as a result of the foregoing, the Company would restate its financial statements; (5) as a result of the foregoing, Legacy Volta's founders would imminently exit the Company; (6) as a result, the Company's financial results would be adversely impacted; and (7) 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.
Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (NYSE:LICY)
If you suffered a loss, contact us at:https://www.wongesq.com/pslra-1/li-cycle-holdings-corp-f-k-a-peridot-acquisition-corp-loss-submission-form?prid=27859&wire=1
Lead Plaintiff Deadline: June 20, 2022
Class Period: February 16, 2021 - March 23, 2022
Allegations against LICY include 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.
Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings (NYSE:BKKT)
If you suffered a loss, contact us at:https://www.wongesq.com/pslra-1/bakkt-holdings-inc-f-k-a-vpc-impact-acquisition-holdings-loss-submission-form?prid=27859&wire=1
Lead Plaintiff Deadline: June 20, 2022
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired: (a) Bakkt securities between March 31, 2021 and November 19, 2021, both dates inclusive; and/or (b) Bakkt Class A common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Bakkt Holdings, LLC completed on or about October 15, 2021.
Allegations against BKKT include that: (i) the Company had defective financial controls; (ii) as a result, there were errors in the Company's financial statements related to the misclassification of certain shares issued prior to the business combination between the Company and Bakkt Holdings, LLC; (iii) accordingly, the Company would need to restate certain of its financial statements; (iv) the Company downplayed the true scope and severity of these issues; (v) the Company overstated its remediation of its defective financial controls; and (vi) as a result, the documents issued in connection with the business combination and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
To learn more contact Vincent Wong, Esq. either via email firstname.lastname@example.org or by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
SOURCE: The Law Offices of Vincent Wong
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