Shareholders Foundation, Inc.

NYSE:LSPD Investor Notice: Lawsuit Alleges Securities Laws Violations by Lightspeed Commerce Inc.

A lawsuit was filed on behalf of investors in Lightspeed Commerce Inc. (NYSE:LSPD) shares over alleged securities laws violations.


San Diego, CA -- (SBWIRE) -- 12/08/2021 -- An investor, who purchased shares of Lightspeed Commerce Inc. (NYSE: LSPD), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Lightspeed Commerce Inc.

Investors who purchased shares of Lightspeed Commerce Inc. (NYSE: LSPD) have certain options and for certain investors are short and strict deadlines running. Deadline: January 18, 2022. NYSE: LSPD investors should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

Montreal, Canada, based Lightspeed Commerce Inc. provides commerce enabling Software as a Service (SaaS) platform for small and midsize businesses, retailers, restaurants, and golf course operators in Canada, the United States, Germany, Australia, and internationally.

On September 29, 2021, Spruce Point Capital Management, LLC published a short-seller report on Lightspeed. In the report, Spruce Point made the following claims:

"Evidence shows that Lightspeed massively inflated its business pre-IPO, overstating its customer count by 85% and gross transaction volume ('GTV') by 10% – a payment volume metric that a former employee described as 'smoke and mirrors.'

"Evidence of declining organic growth and business deterioration through Lightspeed's IPO, despite management's claims that Average Revenue Per User ("ARPU") is increasing."

"Recent acquisition spree has come at escalating costs with no clear path to profitability, while management pursues aggressive revenue reporting practices."

"Weak governance standards and worrisome auditor oversight by PwC under a concerning CFO, who was tied to a prior technology roll-up scandal."

Shares of Lightspeed Commerce Inc. (NYSE: LSPD) declined from $122.53 per share on September 22, 2021, to $42.65 per share on December 6, 2021.

The plaintiff claims that between September 11, 2020 and September 28, 2021, the Defendants made false and/or misleading statements and/or failed to disclose that Lightspeed had misrepresented the strength of its business by, inter alia, 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, that Lightspeed had overstated the benefits and value of the Company's various acquisitions, that accordingly, the Company had overstated its financial position and prospects, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Lightspeed Commerce Inc. (NYSE: LSPD) have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.