IlluMyFi

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Li-Cycle To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 investing in Li-Cycle securities between June 14, 2022 and October 23, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/LICY. New York, New York--(Newsfile Corp. - January 7, 2024) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Li-Cycle Holdings Corp. ("Li-Cycle" or the "Company") (NYSE: LICY) and reminds investors of the January 8, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that the Company's Rochester Hub was experiencing escalating construction costs; (2) that these "escalating construction costs" exceeded the expected aggregate cost of the project; (3) that, as a result, the Company would be forced to temporarily halt construction and reevaluate the construction strategy for the Rochester Hub; and (4) that, 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. On October 23, 2023, before the market opened, Li-Cycle announced that it would halt construction work on its Rochester Hub project pending a comprehensive review of the project including construction strategy, even though "engineering and procurement for the project are largely complete." The Company disclosed it had "recently experienced escalating construction costs" and now "expects the aggregate cost for the current scope of the project to exceed its previously disclosed guidance." On this news, Li-Cycle shares declined by $1.04, or approximately 45.81%, to close at $1.23 per share on October 23, 2023, on unusually heavy trading volume. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Li-Cycle's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193355

Sentiment

Bearish/Bullish

13.01.24 01:26

by markets.businessinsider.com

Falling stocks, recession, and historic debt: Here's the bear case for markets a...

By clicking "Sign Up", you accept our Terms of Service and Privacy Policy. You can opt-out at any time. Record-high S&P 500 year-end targets and soft-landing calls for 2024 suggest Wall Street is optimistic for what's to come. But market veterans caution the bear case is still alive. There's a chance the full effects Federal Reserve's restrictive policy haven't fully materialized yet, and experts say there are still plenty of hazards that could arise even as the central bank starts to think about cutting rates. Stubborn inflation, rising US debt, and a fatigued US consumer, among other factors, could tip the economy into a recession -- and hurt the stock market along the way. The latest inflation data, for starters, showed consumer prices unexpectedly moved higher in December to 3.4% year-over-year, above the prior month's 3.1%. That's muddled the outlook for Fed policy and tempered expectations for rate cuts as soon as March. "What's most important is that it's now very clear that a recession is not needed to bring inflation down to 2%, so any recession that occurs would be a mistake committed by the Fed," Morningstar chief economist Preston Caldwell told Business Insider. "And it would be a mistake that would be corrected quickly by rapid and deep rate cuts," he added. Should lagged rate-hiking effects indeed catch up to the economy, hiring would slow down, unemployment would rise, and consumption would ultimately decline, according to Allianz's senior investment strategist, Charlie Ripley. "The feedback loop to equity markets would be a decline in profit margins and lead to a decline in broad equity indices," Ripley told Business Insider. "In order for this to happen, we would have to see unemployment rise well above 4% and somewhere close to the 5% level." Historical data suggests stock market returns are mixed during a downturn. Of the 31 recessions that have struck the US since the Civil War, equities saw positive returns in about half of those instances. It's also worth noting that stock market returns have been highly concentrated in the Magnificent Seven mega-cap stocks in the last year, and a significant dip in those names could result in a strong move down for the broader market. Americans have effectively blown through all their savings from the pandemic, and a spending slowdown may already be underway. Credit card delinquencies are surging, people are saving less, and consumer confidence is tepid. Even retail hiring took a dip during the holidays, which suggests businesses are also turning cautious. "While the economy seems strong based on backward-looking data, it's quite fragile if the consumer pulls back," said Sal Naro, the chief investment officer of Coherence Credit Strategies. "That pullback would result in businesses reducing capital expenditures and employee headcount to limit profit margin deterioration, further exacerbating consumer spending weakness and creating a vicious downwards cycle." But it isn't just households. The government is racking u...