Business
NOTICE OF THE SETTLEMENT OF THE CLASS ACTION PROCEEDINGS RELATING TO LIGHTSPEED SECURITIES
A class action was commenced against Lightspeed Commerce Inc., several of its directors and officers, and PricewaterhouseCoopers LLP (collectively the "defendants") before the Superior Court of Québec. The plaintiffs allege that the defendants misrepresented material facts relating to Lightspeed Commerce Inc.'s financial performance in its public filings and statements.
About this update from Lightspeed Commerce Inc
[{"type":"text","content":"Read this notice carefully as it may affect your rights.","length":56,"tagName":"p","attribs":{}},{"type":"text","content":"This notice is directed to all persons and entities, excluding certain persons associated with the defendants, who acquired securities of LIGHTSPEED COMMERCE INC. or LIGHTSPEED POS INC. between March 7, 2019 and November 3, 2021 inclusively (collectively, the "Class" or "Class Members").","length":308,"tagName":"p"},{"type":"text","content":"MONTREAL, Dec. 4, 2025 /CNW/ - A class action was commenced against Lightspeed Commerce Inc., several of its directors and officers, and PricewaterhouseCoopers LLP (collectively the "defendants") before the Superior Court of Québec. The plaintiffs allege that the defendants misrepresented material facts relating to Lightspeed Commerce Inc.'s financial performance in its public filings and statements.","length":422,"tagName":"p"},{"type":"text","content":"On November 25, 2025, the Honourable Lukasz Granosik, J.S.C., approved the settlement of these proceedings without any admission of liability on the part of the defendants, who deny any and all claims of wrongdoing. This notice provides a summary of the settlement and of what Class Members must do if they wish to receive compensation under the settlement.","length":357,"tagName":"p"},{"type":"text","content":"SUMMARY OF THE SETTLEMENT TERMSThe defendants will pay CDN $11 million, in full and final settlement of all claims made against them. Class Counsel Fees were fixed by the Court at one third (33.33%) of that amount, plus disbursements and taxes, to be paid as a first charge on the settlement amount. The settlement amount, less Class Counsel Fees and disbursements, the Administrator's expenses, and taxes, will be distributed to the Class on a pro rata basis, in accordance with the Court-approved plan of allocation. The settlement agreement and plan of allocation may be viewed at https://www.LightspeedSettlement.com.","length":626,"tagName":"p"},{"type":"text","content":"A CLAIM FOR COMPENSATION MUST BE MADE BY MARCH 4, 2026","length":54,"tagName":"p","attribs":{}},{"type":"text","content":"Each Class Member must submit a completed Claim Form on or before March 4, 2026 to receive compensation under the settlement. The Claim Form can be accessed or downloaded at https://www.Li...