The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Lightspeed Commerce Inc. (NYSE: LSPD) who purchased shares between September 11, 2020 and November 3, 2021. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
(i) Lightspeed had misrepresented the strength of its business by, inter alia, overstating its customer count, gross transaction volume, and increase in Average Revenue Per User, 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; (iii) accordingly, the Company had overstated its financial position and prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until January 18, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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