Two stockholder-rights law firms launch investigations into Li-Cycle

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Two New York City-based law firms that focus on stockholder rights have launched investigations into potential claims against Li-Cycle.

The invitation to Li-Cycle stockholders to share information or concerns with lawyers from the firms comes after the Canadian-based lithium-ion battery recycler announced on Monday that construction on the Rochester Hub has been paused.

Li-Cycle said rising construction costs in relation to budget prompted what it says is a temporary halt to work at the site adjacent to Eastman Business Park in the town of Greece.

Bragar Eagel & Squire, P.C., and Kirby McInerney LLP say they are investigating concerns whether the company or company officers “violated federal securities laws and/or engaged in other unlawful business practices.”

Persons that purchased stock or otherwise acquired stock and suffered a loss, or long-time shareholders, are invited to participate in the action by contacting the firms, according to news releases issued by both firms.

More information, and a claim form, is available on the websites for both Bragar Eagel & Squire and Kirby McInerney.

Li-Cycle was at $2.27 at the closing of trading on Oct. 20, fell to as low as $1.07 on Monday following the “pause” announcement, and was at $1.23 as of 12:30 p.m. Friday.

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