CLASS ACTION UPDATE for LICY, BKKT and IIPR: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / May 20, 2022 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

LICY Shareholders Click Here: https://www.zlk.com/pslra-1/li-cycle-holdings-corp-loss-submission-form?prid=27531&wire=1
BKKT Shareholders Click Here: https://www.zlk.com/pslra-1/bakkt-holdings-inc-f-k-a-vpc-impact-acquisition-holdings-loss-submission-form?prid=27531&wire=1
IIPR Shareholders Click Here: https://www.zlk.com/pslra-1/innovative-industrial-properties-inc-loss-submission-form?prid=27531&wire=1

* ADDITIONAL INFORMATION BELOW *

Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. LICY

LICY Lawsuit on behalf of: investors who purchased February 16, 2021 - March 23, 2022
Lead Plaintiff Deadline : June 20, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/li-cycle-holdings-corp-loss-submission-form?prid=27531&wire=1

According to the filed complaint, during the class period, Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) Li-Cycle's largest customer, Traxys, is not actually a customer, but merely a broker providing working capital financial to the Company while Traxys tries to sell Li-Cycle's product to end customers; (2) the Company engaged in highly questionable related party transactions; (3) the Company's mark-to-model accounting is vulnerable to abuse and gave a false impression of growth; (4) a significant portion of the Company's reported revenues were derived from simply marking up receivables on products that had not been sold; (5) the Company's gross margins have likely been negative since inception; (6) the Company will require an additional $1 billion of funding to support its planned growth (which is a figure greater than the Company raised via the merger); and (7) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings BKKT

This lawsuit is on behalf of persons and entities that purchased or otherwise acquired: (a) Bakkt securities between March 31, 2021 and November 19, 2021, both dates inclusive; and/or (b) Bakkt Class A common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Bakkt Holdings, LLC completed on or about October 15, 2021.
Lead Plaintiff Deadline : June 20, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/bakkt-holdings-inc-f-k-a-vpc-impact-acquisition-holdings-loss-submission-form?prid=27531&wire=1

According to the filed complaint, (i) the Company had defective financial controls; (ii) as a result, there were errors in the Company's financial statements related to the misclassification of certain shares issued prior to the business combination between the Company and Bakkt Holdings, LLC; (iii) accordingly, the Company would need to restate certain of its financial statements; (iv) the Company downplayed the true scope and severity of these issues; (v) the Company overstated its remediation of its defective financial controls; and (vi) as a result, the documents issued in connection with the business combination and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

Innovative Industrial Properties, Inc. IIPR

IIPR Lawsuit on behalf of: investors who purchased May 7, 2020 - April 13, 2022
Lead Plaintiff Deadline : June 24, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/innovative-industrial-properties-inc-loss-submission-form?prid=27531&wire=1

According to the filed complaint, during the class period, Innovative Industrial Properties, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Innovative Industrial Properties' focus is to be a cannabis company lender rather than a REIT; (2) that the true values of the Company's properties are significantly lower than Innovative Industrial Properties represents; (3) there are existential issues in its top customers; (4) as a result, its top customers may not be able to continue making payments to Innovative Industrial Properties and the Company would face significant issues replacing these customers; and (5) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP