Li-Cycle Holdings Corp. and two top executives allegedly misled investors for more than a year about the battery recycling company’s construction of a post-processing facility in Rochester, N.Y., according to a shareholder class action complaint.
The company allegedly failed to disclose escalating construction costs that exceeded the total project budget, which ultimately forced Li-Cycle to stop building the facility and reevaluate the construction strategy, according to the suit filed Wednesday in the US District Court for the Southern District of New York.
Li-Cycle allegedly touted progress on its Rochester Hub project starting in June 2022, when it disclosed a $485 ...
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