Settlement Announcement in Class Action Against Lightspeed Securities: Important Information for Investors
Class Action Settlement Notice for Lightspeed Securities
In a significant development for investors, a class action lawsuit has been settled against Lightspeed Commerce Inc., its directors and several affiliated parties, including PricewaterhouseCoopers LLP. This legal action originated over allegations that these entities misrepresented crucial facts concerning the company's financial performance during a specified timeline.
Background of the Case
The case centered on securities acquired by investors between March 7, 2019, and November 3, 2021. The plaintiffs contended that Lightspeed's public disclosures did not accurately reflect its financial standing, leading to potentially significant losses for investors. On November 25, 2025, the Superior Court of Québec approved a settlement, which entails no admission of wrongdoing from the defendants, who continue to deny the allegations.
Settlement Terms
The defendants have agreed to make a payment of CDN $11 million, which will serve as a final resolution for all claims against them. Importantly, the court has determined that one-third (33.33%) of this amount will cover Class Counsel Fees, alongside any applicable disbursements and taxes, marking it as the first priority charge against the total settlement sum. The remaining funds will be distributed among the class members in accordance with a plan sanctioned by the court, which can be accessed on the official settlement website.
Claim Process
To receive compensation, class members must complete and submit a Claim Form by March 4, 2026. This form is available online at LightspeedSettlement.com. Investors who fail to submit their claim on time will forfeit their entitlement to any portion of the settlement amount.
Concilia Services Inc. has been appointed by the court to manage the claims process. Their responsibilities involve processing the claims, verifying eligibility, and distributing the settlement funds to those who qualify. Claim Forms can be submitted online, but a paper version is also available for those without internet access.
For any inquiries regarding the claims process or eligibility requirements, affected individuals can reach out to Concilia Services at the contact listed on their website.
Important Considerations
It is crucial for all class members to understand the implications of this settlement and act promptly by submitting their claims before the deadline. This situation underscores the importance of transparency and accurate reporting within financial sectors, as misrepresentation can lead to significant legal repercussions and financial losses.
Investors are encouraged to access the settlement details for further information, including a comprehensive explanation of the allocation plan and relevant documentation available on official court resources.
Further Information
Additional information can be found by visiting Faguy & Co.'s class actions page or the Registre des actions collectives website for publicly available documents related to this case.
Investors who participated in purchasing Lightspeed securities during the stated period should review this information carefully, as it potentially affects their rights and claims regarding the settlement. For any further clarification, legal professionals recommended for assistance include Mtre Lea Bruyere at LPC Avocats Inc., a court-recognized legal representative in this matter.
Topics Financial Services & Investing）
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