NEW YORK, NY/ACCESSWIRE/May 11, 2022/ The Law Firms of Vincent Wong announces that class action lawsuits have been filed on behalf of certain shareholders of the following companies. If you suffered a loss, you have until the lead plaintiff’s deadline to ask the court to name you as the lead plaintiff. There will be no obligation or cost to you.
Vertiv Holdings Co TRV
If you have suffered a claim, contact us at: https://www.wongesq.com/pslra-1/vertiv-holdings-co-loss-submission-form?prid=27098&wire=1
Lead Applicant Deadline: May 23, 2022
This lawsuit is on behalf of persons and entities who: (a) purchased or otherwise acquired Vertiv securities between February 24, 2021 and February 23, 2022 inclusive; and/or (b) purchased Vertiv Shares under the Company’s secondary public offering of Class A common stock completed on or about November 4, 2021.
The allegations against VRT include that: (1) the Company failed to adequately respond to supply chain issues and inflation by raising its prices; (2) due to increased costs, Vertiv’s revenues would be adversely affected; and (3) as a result of the foregoing, defendants’ positive statements regarding the Company’s business, operations and prospects were materially misleading and/or lacked reasonable basis.
Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. LICY
If you have suffered a claim, contact us at: https://www.wongesq.com/pslra-1/li-cycle-holdings-corp-fka-peridot-acquisition-corp-loss-submission-form?prid=27098&wire=1
Lead Applicant Deadline: June 20, 2022
Course period: February 16, 2021 – March 23, 2022
The allegations against LICY include the following: (1) Li-Cycle’s largest customer, Traxys, is not actually a customer, but merely a broker providing working capital to the company while Traxys tries to sell the product from Li-Cycle to end customers; (2) the Company has engaged in transactions with highly questionable related parties; (3) the Company’s mark-to-model accounting is vulnerable to abuse and gives a false impression of growth; (4) a significant portion of the Company’s reported revenue was derived simply from gross up receivables on products that had not been sold; (5) the gross margins of the Company have probably been negative since its inception; (6) the Company will need an additional $1 billion in funding to support its expected growth (which is more than the Company raised through the merger); and (7) therefore, the defendants’ public statements were materially false and/or misleading at all relevant times.
Innovative Industrial Properties, Inc. IIRP
If you have suffered a claim, contact us at: https://www.wongesq.com/pslra-1/innovative-industrial-properties-inc-loss-submission-form?prid=27098&wire=1
Lead Applicant Deadline: June 24, 2022
Course period: May 7, 2020 – April 13, 2022
The allegations against the IIPR include that: (1) Innovative Industrial Properties’ purpose is to be a cannabis company lender rather than a REIT; (2) that the actual values of the Company’s properties are significantly lower than those represented by the innovative industrial properties; (3) there are existential problems with his main clients; (4) as a result, its major customers may not be able to continue to make payments to Innovative Industrial Properties and the Company would face significant issues in replacing such customers; and (5) as a result, defendants’ statements regarding its business, operations and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
For more information, contact Vincent Wong, Esq. either by email [email protected] or by phone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigation involving financial fraud and violations of shareholder rights. Lawyer advertisement. Prior results do not guarantee similar results.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
Email: [email protected]
THE SOURCE: The law firms of Vincent Wong
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