Recent Securities Litigations

Lightspeed Commerce Inc. Subordinate Voting Shares (NYSE: LSPD)

Company Name:Lightspeed Commerce Inc. Subordinate Voting Shares
Stock Symbol:NYSE: LSPD
Class Period Start:09/11/2020
Class Period End (inclusive):09/28/2021

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (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.