أطلقت جمعية المهنيين الماليين (AFP) مؤخرًا مجلس الخزانة في الشرق الأوسط وأفريقيا بهدف العمل كمورد رئيسي في المنطقة ومناصر لمهنة الخزانة.
بيثيسدا، ماريلاند، 12 مايو 2022 /PRNewswire/ — أعلنت جمعية المهنيين الماليين (AFP) عن إطلاق مجلسها الاستشاري للخزانة في الشرق الأوسط وأفريقيا الذي تم تشكيله حديثًا. والهدف من المجلس هو توفير القيادة الفكرية والخبرة والدعوة لمجتمع الخزانة والتمويل لمنطقة الشرق الأوسط وأفريقيا.
ويتألف المجلس من مهنيين في مجال الخزينة للشركات وقادة فكر أعضاء في جمعية المهنيين الماليين ومهتمين بالنهوض بمهنة الخزينة في منطقة الشرق الأوسط وأفريقيا.
– رانيا عفيفي، مساعد مدير الخزينة، مصر إيطاليا العقارية، مصر
– محمد سعود العيد، مدير العمليات النقدية، معادن، المملكة العربية السعودية
– غولريز علي سيد، أمين الصندوق وإدارة المخاطر المالية، السعودية للشحن، المملكة العربية السعودية
– أحمد الجوقة، مدير الخزينة، هيئة الإحصاء في رأس الخيمة. الحكومية، الإمارات العربية المتحدة
– هشام أبو الذهب، أمين صندوق المجموعة، المنصور للسيارات، مصر
– ميديفا لومير، رئيسة قسم الخزانة، شركة يونيليفر تي كينيا، كينيا
– أحمد مخلوف، المدير المالي، جنرال موتورز، مصر
– عماد جلال المسالمي، مدير الشؤون المالية والخزينة للمجموعة، الشركة السعودية للكيماويات القابضة، المملكة العربية السعودية
– مينا نصيف، الرئيس التنفيذي للرؤية، بيكون فين ترين، مصر
– محمد صديق، رئيس الخزينة وتمويل الشركات، شركة النهدي الطبية، المملكة العربية السعودية
– نيهان يلمازر، المديرة الإقليمية للخزانة والمالية، تاف للإنشاءات، الإمارات العربية المتحدة/تركيا
ومن خلال مهمته المتمثلة في دعم جمعية المهنيين الماليين في تحقيق هدفها المتمثل في أن تكون المورد الرئيسي والمدافع عن مهنة الخزينة في منطقة الشرق الأوسط وأفريقيا، يعمل المجلس بمثابة “عيون وآذان” بين جمعية المهنيين الماليين ومجتمع خزينة الشرق الأوسط وأفريقيا من خلال أنشطة مثل تبادل الموضوعات ذات الاهتمام والتحديات التي قد يواجهها الأعضاء والتي يمكن لجمعية المهنيين الماليين دعمها بمجموعة متنوعة من الموارد.
وقال جيم كايتز، الرئيس والمدير التنفيذي لجمعية المهنيين الماليين: “يتألف المجلس الاستشاري للخزانة في جمعية المهنيين الماليين من مهنيين متميزين بشكل لا يصدق في مجال الخزانة، متحمسون ومتحمسون لهذه المهنة”. “أنا متحمس جدًا لما يمكن لهذه المنظمة القيام به لدفع هذا الحماس للخزينة، وفي مرحلة ما، للتمويل، في جميع أنحاء منطقة الشرق الأوسط وأفريقيا.”
يمكن لأعضاء الصحافة الاتصال بميليسا رواك، المديرة الإدارية، على mrawak@afponline.org.
نبذة عن جمعية المهنيين الماليين®: إذ يقع مقرها الرئيسي خارج واشنطن العاصمة ومقرها الإقليمي في سنغافورة، جمعية المهنيين الماليين هي جمعية مهنية ملتزمة بتعزيز نجاح أعضاء المهن المالية ومنظماتهم. تم الإنشاءها والإدارة من قبل جمعية المهنيين الماليين، وتضع شهادة مدير الخزانة المعتمد وشهادة FP&A المهنية للشركات معايير التميز في الخزينة والتمويل.
The Association for Financial Professionals (AFP) recently launched the Middle East and Africa Treasury Council with the goal of serving as the region’s key resource and advocate for the treasury profession.
BETHESDA, Md., May 12, 2022 /PRNewswire/ — The Association for Financial Professionals (AFP) announces the launch of its newly formed AFP Middle East and Africa (MEA) Treasury Advisory Council. The objective of the Council is to provide thought leadership, expertise and advocacy for the treasury and finance community for the Middle East and Africa region.
The Council is composed of corporate treasury professionals and thought leaders who are members of AFP and are interested in advancing the treasury profession within the MEA region.
With a mission to support AFP in its goal to be the key resource and advocate for the treasury profession within the MEA region, the Council functions as the “eyes and ears” between AFP and the MEA treasury community through activities such as sharing topics of interest and challenges that members may be facing and that AFP can support with a variety of resources.
“The AFP MEA Treasury Advisory Council is comprised of incredibly distinguished treasury professionals, who are enthusiastic and passionate about the profession,” said Jim Kaitz, AFP president and CEO. “I’m so excited about what this organization can do to drive that enthusiasm for treasury, and at some point, finance, throughout the Middle East and Africa region.”
Members of the press may contact Melissa Rawak, managing director, at mrawak@afponline.org.
About AFP®: Headquartered outside of Washington, D.C., and located regionally in Singapore, the Association for Financial Professionals (AFP) is the professional society committed to advancing the success of treasury and finance members and their organizations. Established and administered by AFP, the Certified Treasury Professional and Certified Corporate FP&A Professional credentials set standards of excellence in treasury and finance.
MUNICH, May 12, 2022 /PRNewswire/ — At Intersolar Europe 2022, held at Messe München, Germany, Huawei shared its commitment to collaborating with partners and customers and empowering them with innovative FusionSolar Smart PV solutions for a better, greener, and smarter future. Under the theme of “Building a low-carbon smart society”, Huawei invited its global clients and partners to experience the progress and potential of solar power at its exhibition booth. Huawei demonstrated how it combines solar with storage and intelligence to accelerate the deployment of solar power as mainstream energy and enable industries and households to benefit from green electricity.
I. FusionSolar Smart PV Solution 6.0+: Safe, Reliable, and with Higher Yields
Huawei’s FusionSolar Smart PV Solution features the Smart String Inverter and has been widely recognized by customers for its delivery of clean solar power by integrating digital and power electronics technologies while promoting the digital and intelligent development of the PV industry.
A. Ensure Safety and Reliability for Power Plants
With increasing power in modules and inverters, safety on the direct current (DC) side has become a challenge for PV plants. After over two years of R&D efforts, Huawei launched the exclusive Smart String-Level Disconnector Technology (SSLD-TECH), achieving active DC disconnection and precise string-level disconnection. Based on an all-scenario design approach with high precision and fast response, SSLD-TECH accurately identifies and reliably cuts off common DC system faults. It can break reverse string connection/reverse current flow and inverter short circuit.
In terms of reliability, according to a report issued by TÜV in March 2022, Huawei’s Smart PV Solution has achieved a 99.999% availability based on the operation data of the 2.2 GW project in Qinghai, China. With durable modules and smart O&M, the world’s largest power plants can run smoothly and efficiently.
B. Grid Forming
Developed by Huawei, the intelligent grid connection algorithm enables a PV system to be adapted to various grid scenarios. Specifically, it enables excellent performance in terms of frequency and voltage in a weak grid environment and comprehensively improves PV power plants’ voltage and power control capabilities. When the value of SCR is as low as 1.2, the intelligent grid connection algorithm ensures that the inverter runs at full power without derating and successfully passes through high and low voltage continuously. This supports the stability of the power grid and addresses the global issue of large-scale grid-connected consumption of new energy.
In terms of power grid support, Huawei’s Smart PV & Storage Solution can be used to build a voltage source power station, which is compatible with the power grid. This verified that Grid Forming technology can increase the proportion of new energy access this year, based on the integration of optical storage.
The Grid Forming technology completes technical verification in a weak grid environment, further accelerating PV power generation from “Grid Supporting” to “Grid Forming”, and advancing solar power to become a main energy source.
C. Increase Power Generation and Make Optimal Investment
Huawei string inverters use multi-channel maximum power point tracking (MPPT) that solves the problem of string mismatch, and the Smart DC System (SDS) to achieve more than 1% increase in power generation through the integration of AI algorithms. In Guangxi, China, the solution increases power generation by 1.69%. Huawei cooperates with more than 10 brands of tracking solar panels to provide users with a better experience. Real-time data from multiple global projects shows that Huawei’s smart PV solutions can significantly increase power generation and help customers shorten their investment payback period.
D. Smart O&M
Smart I-V Curve Diagnosis 4.0 has revolutionized traditional operation and maintenance methods. It is like a “CT scan” offering a complete online full-scale inspection of 100 MW power plants in 20 minutes, and automatically generating diagnosis reports. It can also scan regularly within flexible times, providing a better user experience. In addition, it supports 14 types of fault diagnosis, with a converge rate of more than 80% of main faults. The key indicators of IV detection, the recognition rate, accuracy rate, and recurrence rate are all greater than 90%. This meets the industry’s highest level of CGC appraisal IV classification certification Level 4. In a real-life application, it helped the 30 MW project of a Malaysian customer save 2,000 hours of workload every year.
II. Smart String ESS: FusionSolar for Optimal Levelized Cost of Energy Storage (LCOS)
Energy storage plays an important role in electricity generation, transmission, distribution, and consumption within the clean energy system. An Energy Storage Solution (ESS) serves as a power reserve and a grid regulator and stabilizers simultaneously, providing valuable resources for peak shaving and frequency regulation.
Due to cell mismatch, conventional energy storage solutions are characterized by limited capacity, short service life, complex O&M, and significant safety risk, inhibiting their widespread application. With over ten years of R&D experience in ESS, Huawei integrates digital, power electronics and energy storage technologies in a unique smart string structure to overcome the limitations of lithium batteries. Suitable for peak shaving and frequency regulation, Huawei’s Smart String ESS delivers a flexible and cost-effective solution with higher profit potential.
A. Optimal Investment
Huawei adopts four innovations to boost energy throughput in battery charging and discharging, offering a solution to cell mismatch.
The pack-level optimization of Smart String ESS enables independent charging and discharging of cells to prevent mismatch loss.
Rack-level optimization improves energy throughput by 15% or reduces the initial configurations by 15% at the same energy throughput by eliminating the risks of circulating currents.
With distributed cooling, temperature difference in the container can be controlled within 3°C at a 0.5 C-rate, which extends the battery life by 50%.
The all-modular design, efficient and reliable, cuts the levelized cost of energy storage (LCOS) by 20% and generates more revenue.
B. Simplified O&M
The problem of cell mismatch is intensified during the operation of a PV plant, which requires routine shutdowns for the manual calibration of battery state of charge (SOC). Through Huawei’s exclusive pack-level optimization, automatic SOC calibration is carried out without the need to pause operations. The easy replacement of faulty modules eliminates the need for onsite visits by experts, significantly reducing O&M costs. Pre-installed with battery cells, each container weighs less than 30 tons, making it easy to transport the container.
C. Safety and Reliability
Focusing on the end-to-end safety design, Huawei has implemented four-layer active shutdown and two-level passive isolation of ESS protection ensure all-around system safety.
In response to different business models, Huawei’s Smart String ESS can be deployed flexibly to create value for customers. Huawei energy storage solution achieves the streamlined management of battery discharging with the Smart Rack Controller, ensuring longer, constant power output which is critical to frequency regulation. At the same time, Huawei’s automatic SOC calibration and high availability address the industry challenges for ESS in frequency regulation scenarios, such as high SOC balance frequency and component failures, reducing operating expenses for customers. For peak shaving, the Pack Optimizer and the Smart Rack Controller increase power output by 15% during the life cycle, generating higher revenues for customers.
III. Commercial & Industrial Smart PV Solution 2.0: FusionSolar for a Sustainable Business
With increasing demand from enterprises to reduce electricity costs and carbon emissions, Huawei launched the 1+3 C&I Smart PV Solution 2.0, including an all-new three-phase inverter (SUN2000-50KTL-M3), a Smart String ESS (LUNA2000-200KWH-2H0), which can be coupled with the 100kW power conditioning system (PCS), and a smart PV optimizer (MERC-1100W/1300W-P). The C&I Smart PV Solution will help industries move into a low-carbon era with optimized electricity costs, active safety, and smart O&M for an enhanced experience.
The electricity consumption of enterprises usually peaks in the daytime, and the consumption curve is comparatively consistent with the PV curve. Electricity costs can be significantly reduced by using PV power for self-consumption and selling the remaining power to the grid at feed-in tariff rates. The installation of an ESS further boosts the self-consumption rate to more than 80%, and by taking advantage of critical peak pricing, the production costs can be lowered. These solutions can help customers build a low-carbon environment with improved competitiveness for green development.
A. Optimal Electricity Cost: As seen from case study comparisons, Huawei’s C&I Smart PV Solution can increase power generation by more than 2% under the same conditions. To address shading issues commonly faced by the C&I sector, Huawei has launched the latest MERC-1100W/1300W-P optimizer, increasing installation volume by up to 30%. When the system capacity is elevated from 175kW to 200kW, 15% increase in installation volume can contribute 25,000 kWh of additional electricity. Thanks to its pack-level optimization, Smart String ESS improves energy throughput by 2%-5% during the service life, which further reduces the electricity cost.
B. Active Safety: The inverter is equipped with an AI-powered arc fault circuit interrupter (AFCI), which received the highest Level 4 certification from the CGC, to ensure safety for customers. The AFCI can detect arc fault locations in modules and distinguish noises from electric arcs, effectively eliminating false alarms and omissions. The combination of the leading SSLD-TECH and the AFCI provides dual protection for the system with precise DC fault detection and emergency disconnection. The four layers of ESS protection can prevent safety hazards, system faults and potential failures, drastically improving the system’s safety.
C. Smart O&M: The installation of the optimizer enables module-level management and the real-time monitoring of the power plant operation, cutting O&M costs by 50%. The automatic SOC calibration of the ESS saves personnel site visit and reduces O&M costs.
IV. Residential Smart PV Solution 3.0: FusionSolar for a Better Life
Following the launch of the “1+3+X” Residential Smart PV Solution 2.0 in 2021, Huawei presented the upgraded “1+4+X” design this year. Featuring a smart energy controller which connects a module controller, an ESS, an EV charger, and a management system, the integrated solution enables a smart power consumption ecosystem. This enhances PV self-consumption rate to 90% from 70% in the previous generation, bringing an all-around clean energy experience to homes with lower electricity costs, active safety, and intelligent assistance.
EV Charger (FusionCharge AC AP07/22N-EU): To enable low-carbon living, Huawei has launched a new solar EV charger for residential use with easy indoor and outdoor installation, delivering convenient fast charging.
A. Optimal Electricity Cost: Slimmer and lighter, the brand-new SUN2000-600W-P Smart Module Controller performs well for high-power modules. The flexible design coupled with the optimizer is suitable for any rooftop while supporting shading conditions and multi-directional installation. Power generation can go up by 27%, as seen in a pilot case study. Compact and stylish, Huawei’s Smart String ESS supports modular configurations and delivers high power throughput, allowing customers to enjoy efficient, clean energy.
B. Active Safety: The industry-leading AFCI technology can accurately detect arc faults and disconnect the inverter in 0.5 seconds. Meeting NEC 2017, which is one of the most stringent international safety standards, the smart optimizer supports automatic and manual activation in an emergency to bring the voltage of rooftop modules to zero. This helps to prevent electric shocks with rapid disconnection. The ESS also complies with VDE2510, one of Germany’s strictest standards in system safety. All of these minimize the safety hazards of a residential PV system to give customers peace of mind.
C. Intelligent Assistant: The AI energy management assistant EMMA can offer accurate estimations of PV power generation and household electricity consumption by learning from big data about weather conditions and user habits. It automatically adjusts the system for the best working mode, delivering clean solar power while ensuring comfort.
The combination of PV and ESS provides backup power during outages, ensuring the smooth running of important appliances such as security systems, lighting equipment and refrigerators, eliminating customers’ concerns about continuous power supply at home.
V. Smart Micro-grid Solution: Clean and Reliable Power Supply
According to World Bank, 840 million people live in off/unstable grid areas, where electricity from oil is still common. This traditional way of power generation results in high carbon dioxide emissions, high costs, and low efficiency, contributing to the widespread problem of the energy divide. Huawei has launched the Smart Micro-grid Solution to deliver optimal LCOE for 100 MW micro-grid projects with energy storage, providing a clean, safe, and reliable power supply with higher energy output and lower costs.
A. Optimal LCOE and Reliable Power Supply
The solution supports the seamless online transition of medium-voltage off/on-grid changeover and off-grid fault ride-through effectively to avoid power outage loss of US$2 million/MW compared to traditional power generation from oil. The solution delivers optimal power quality, helping to achieve zero-carbon generation and eliminate the energy divide.
B. Reduced System Costs
Compared to traditional power generation from oil, Huawei Smart Micro-grid Solution saves LCOE over 50%. Adopting a 2:1 PV/BESS ratio, the solution can reduce the initial configurations by up to 50%.
C. Active Safety
Equipped with SSLD-TECH, the Smart String Inverter enhances the active safety of power plants. The Smart String ESS features four-layer active shutdown and two-level passive isolation, preventing risks at the first place.
Huawei integrates information and communications technology (ICT), power electronics, and energy storage, and continues to collaborate with customers and business partners worldwide to build a low-carbon environment. The company is focused on achieving its goal of zero carbon and accelerating carbon neutrality for a greener, better future.
BRIDGEWATER, N.J., May 11, 2022 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc.(“Synchronoss” or the “Company”) (Nasdaq: SNCR), a global leader and innovator in cloud, messaging and digital products and platforms, today announced the successful completion of the sale of its Digital Experience Platform (“DXP”) and Activation Solutions (“Activation”) to iQmetrix, a leading provider of telecom retail management software. The divestiture was formally announced on March 8, 2022.
“The sale of DXP and Activation is part of our strategic plan to create a leaner business model that focuses on our core growth areas for the future,” said Jeff Miller, President, and Chief Executive Officer of Synchronoss. “Closing this deal is favorable for Synchronoss’s long-term product focus areas. It provides us with operating flexibility to improve our capital structure and to accelerate the development of new product offerings in our key areas such as our cloud portfolio.”
“As a trusted provider of intelligent retail management software, iQmetrix is the natural acquirer of choice for the Digital Experience Platform and Activation Solutions,” said Ryan Volberg, President and Chief Executive Officer of iQmetrix. “We’re very excited as this supports our plans to be the number one enabler of personal connected devices globally. In such a relentlessly changing industry, this is the next big step of many that we’re excited to take to help us create great experiences in the telecom space.”
The DXP and Activation offerings enable telecom operators and retailers around the globe to create, orchestrate and manage digital experiences across all channels. Following the sale, the Synchronoss digital business portfolio includes its Financial Analytics and spatialSUITE products as well as the iNow Platform.
About Synchronoss
Synchronoss Technologies (Nasdaq: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services, and content they love. That’s why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com.
NEW YORK, May 11, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Riskified Ltd. (NYSE: RSKD) pursuant and/or traceable to the Registration Statement issued in connection with the Company’s initial public offering conducted on or about July 28, 2021 (the “IPO” or “Offering”), of the important July 1, 2022lead plaintiff deadline.
SO WHAT: If you purchased Riskified securities pursuant and/or traceable to the IPO you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Riskified class action, go to https://rosenlegal.com/submit-form/?case_id=5896 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 1, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, the IPO Registration Statement was negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Specifically, the IPO Registration Statement made inaccurate statements of material fact because they failed to disclose the following adverse facts that existed at the time of the IPO: (1) as Riskified expanded its user base, the quality of Riskified’s machine learning platform had deteriorated (rather than improved as represented in the Registration Statement), because of, among other things, inaccuracies in the algorithms associated with onboarding new merchants and entering new geographies and industries; (2) Riskified had expanded its customer base into industries with relatively high rates of fraud – including partnerships with cryptocurrency and remittance business – in which Riskified had limited experience and that this expansion has negatively impacted the effectiveness of Riskified’s machine learning platform; (3) as a result, Riskified was suffering from materially higher chargebacks and cost of revenue and depressed gross profits and gross profit margins during its third fiscal quarter of 2021; and (4) thus, the Registration Statement’s representations regarding Riskified’s historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of Riskified prior to and at the time of the IPO, and were materially false and misleading, and lacked a factual basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
NEW YORK, May 11, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (NYSE: LICY, PDAC) between February 16, 2021 and March 23, 2022, inclusive (the “Class Period”), of the important June 20, 2022 lead plaintiff deadline in the securities class action commenced by the Firm.
SO WHAT: If you purchased Li-Cycle securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Li-Cycle class action, go to https://rosenlegal.com/submit-form/?case_id=4885 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 20, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Li-Cycle’s largest customer, Traxys North America LLC, 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
