0 days left to seek lead plaintiff status
Case Summary
Company Name Lightspeed Commerce Inc.
Stock Symbol LSPD
Class Period September 11, 2020 to November 3, 2021
Motion Deadline January 18, 2022

The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Lightspeed Commerce Inc. (NYSE: LSPD). The case is currently in the lead plaintiff stage. Investors who purchased LSPD securities between September 11, 2020 and November 3, 2021 may contact the Thornton Law Firm’s investor protection team by submitting their information above. Investors may also email investors@tenlaw.com or call 617-531-3917.

The case alleges that Lightspeed and its senior executives made misleading statements to investors and failed to disclose that: (i) Lightspeed had misrepresented the strength of its business by overstating its customer count, gross transaction volume (“GTV”), and increase in Average Revenue Per User (“ARPU”), while concealing the Company’s declining organic growth and business deterioration; (ii) Lightspeed had overstated the benefits and value of the Company’s various acquisitions; and (iii) accordingly, Lightspeed had overstated its financial position and prospects. The lawsuit alleges that Lightspeed’s stock price dropped $13.73 per share on September 29, 2021.

Interested Lightspeed investors have until January 18, 2022 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

A class action lawsuit has been filed on behalf of investors in Lightspeed Commerce Inc. (LSPD) securities.

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