Lightspeed Commerce, Inc.

Nath v. Lightspeed Commerce Inc. et al., (Case No. 1:21-cv-06365), E.D.N.Y.

The complaint alleges that Lightspeed Commerce(i) misrepresented the strength of its business by 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) overstated the benefits and value of the Company's various acquisitions; (iii) accordingly, the Company 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.

Shares of Lightspeed stock were down more than 10% in intraday trading on September 29, 2021 following a report issued by short seller, Spruce Point Capital.

Lead Plaintiff deadline
January 18, 2022
class period
September 11, 2020
September 28, 2021
Case Documents
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