Lightspeed Commerce Achieves Landmark Dismissal of Securities Class Action Lawsuit

Lightspeed Commerce Achieves Major Legal Victory

April 5, 2025 - Lightspeed Commerce Inc. (NYSE: LSPD) achieved a significant legal victory as a U.S. District Court fully dismissed a securities class action lawsuit against the company and several of its executives. The ruling was delivered by the Eastern District of New York and marks a definitive win for Lightspeed, confirming their assertions that the allegations held no legal grounding.

The lawsuit had originated from a report released by Spruce Point Capital Management in September 2021. This report contained multiple inaccurate statements and mischaracterizations about Lightspeed’s operations and financial health, which the court ultimately deemed to lack merit. In its ruling, the court found that the plaintiffs failed to present any viable claims.

Dax Dasilva, the founder and CEO of Lightspeed, expressed satisfaction with the court's decision. He conveyed that this outcome supports the company's ongoing commitment to acting transparently and responsibly. "We welcome this outcome, which confirms what we've maintained all along—Lightspeed has acted with integrity and transparency," he stated.

This landmark ruling allows Lightspeed to refocus on its mission of providing value to its stakeholders without the burden of ongoing litigation. It also sets an important precedent regarding how courts may respond to similar allegations, particularly those fueled by misinformation in investment reports.

The dismissal of the lawsuit is timely, as Lightspeed prepares for its upcoming Capital Markets Day scheduled for March 26, 2025. During this event at the New York Stock Exchange, Lightspeed's management will update stakeholders on the company's transformation strategy, operational performance, product innovations, and longer-term financial outlook.

Founded in 2005 in Montréal, Canada, Lightspeed Commerce serves as a robust commerce solution geared towards enhancing the operations of merchants globally. Its platform provides a seamless experience that integrates both online and physical sales channels, allowing businesses to manage everything from inventory to customer engagement across different platforms. Lightspeed operates in over 100 countries, showcasing its central role in supporting the retail, hospitality, and golf industries in today’s fast-paced economy.

The company is dual-listed on both the New York Stock Exchange and the Toronto Stock Exchange, reinforcing its stature in the financial markets while ensuring continued growth through consistent innovation. Investors and stakeholders can anticipate further insights on the company's future trajectory and initiatives at the upcoming event.

In conclusion, the full dismissal of the securities class action lawsuit not only vindicates Lightspeed Commerce but also reflects the broader challenges that companies face in today’s volatile market environments. As the company moves forward, it remains committed to its guiding principles of integrity and transparency, which are more critical than ever in maintaining trust within the evolving landscape of global commerce.