Battery Recycler Li-Cycle Gets Investor Suit Tossed for Good (1)

Li-Cycle Holdings Corp. investors failed to show securities fraud in a proposed class action over cost overruns at a new battery recycling facility, a federal court said in throwing the case out with finality.

To the extent the company’s challenged statements about the progress of the facility’s construction and two other issues are actionable, the investors didn’t adequately allege they were false or misleading, Judge Jed Rakoff said Monday for the US District Court for the Southern District of New York.

The investors also failed to show the necessary level of intent for securities fraud, he said.

The Canadian company, ...