Settlement Announcement for Lightspeed Securities Class Action Case in Quebec
On December 4, 2025, a significant legal development occurred concerning Lightspeed Commerce Inc., a financial technology firm that has been under scrutiny due to allegations related to its securities. The Superior Court of Québec has approved a settlement in a class action lawsuit that was initiated against Lightspeed and several of its executives, including members of the firm PricewaterhouseCoopers LLP. This case stemmed from claims that the defendants misrepresented important financial information in their public documents and statements, impacting investors who purchased shares during the specified period.
This lawsuit has involved participants who acquired securities from Lightspeed Commerce Inc. or its affiliate Lightspeed POS Inc. between March 7, 2019, and November 3, 2021. As a result of the negotiations, the court has mandated that the defendants will pay a total of CAD 11 million. It is crucial to note that this settlement does not imply any admission of guilt or misconduct by the defendants, who have consistently denied any wrongdoings.
An important aspect of this settlement involves the distribution of the settlement funds. The court has ruled that one-third (33.33%) of the total settlement amount will go toward covering the legal fees for the class members' lawyers, along with applicable expenses and taxes. The net settlement amount will then be allocated to eligible class members according to a distribution plan approved by the court. For those keen on understanding the specifics regarding how the settlement funds will be shared, detailed documents concerning the settlement and distribution plan can be accessed online at LightspeedSettlement.com.
Since the timeline for claims submission is crucial, members of the class action group have until March 4, 2026, to submit their compensation claims. To do so, they must complete an application form that is available for download at the same website or can be requested by calling the administrator, Concilia Services Inc., at 1-888-350-7708. It is clear that failure to submit an application by the stipulated deadline will result in forfeiture of any entitlement to the net settlement funds.
Concilia Services Inc., which has been appointed as the claims administrator, is responsible for processing the application forms, determining eligibility for compensation, and distributing the net settlement proceeds to qualified class members. While eligible participants can submit their claims through a secure online application system, those without internet access may submit a paper form via postal service or courier.
The settlement marks a critical juncture for those involved and highlights important considerations for shareholders in similar situations. Individuals seeking further information can reach out to Concilia Services Inc. or check the comprehensive details available at the Lightspeed litigation resources. It's important for them to remain vigilant and proactive in their claims process to ensure their rights are preserved.
As this legal matter unfolds, it serves as a reminder of the complexities involved in company valuations and securities disclosures. The outcome not only affects the involved parties but may also set precedents for ongoing investor relations and corporate governance practices in the tech industry, particularly concerning compliance with securities regulations. Overall, this settlement underscores the importance of transparency and accountability in corporate communications, aspects that are critical for maintaining investor trust and confidence in the market.
This lawsuit has involved participants who acquired securities from Lightspeed Commerce Inc. or its affiliate Lightspeed POS Inc. between March 7, 2019, and November 3, 2021. As a result of the negotiations, the court has mandated that the defendants will pay a total of CAD 11 million. It is crucial to note that this settlement does not imply any admission of guilt or misconduct by the defendants, who have consistently denied any wrongdoings.
An important aspect of this settlement involves the distribution of the settlement funds. The court has ruled that one-third (33.33%) of the total settlement amount will go toward covering the legal fees for the class members' lawyers, along with applicable expenses and taxes. The net settlement amount will then be allocated to eligible class members according to a distribution plan approved by the court. For those keen on understanding the specifics regarding how the settlement funds will be shared, detailed documents concerning the settlement and distribution plan can be accessed online at LightspeedSettlement.com.
Since the timeline for claims submission is crucial, members of the class action group have until March 4, 2026, to submit their compensation claims. To do so, they must complete an application form that is available for download at the same website or can be requested by calling the administrator, Concilia Services Inc., at 1-888-350-7708. It is clear that failure to submit an application by the stipulated deadline will result in forfeiture of any entitlement to the net settlement funds.
Concilia Services Inc., which has been appointed as the claims administrator, is responsible for processing the application forms, determining eligibility for compensation, and distributing the net settlement proceeds to qualified class members. While eligible participants can submit their claims through a secure online application system, those without internet access may submit a paper form via postal service or courier.
The settlement marks a critical juncture for those involved and highlights important considerations for shareholders in similar situations. Individuals seeking further information can reach out to Concilia Services Inc. or check the comprehensive details available at the Lightspeed litigation resources. It's important for them to remain vigilant and proactive in their claims process to ensure their rights are preserved.
As this legal matter unfolds, it serves as a reminder of the complexities involved in company valuations and securities disclosures. The outcome not only affects the involved parties but may also set precedents for ongoing investor relations and corporate governance practices in the tech industry, particularly concerning compliance with securities regulations. Overall, this settlement underscores the importance of transparency and accountability in corporate communications, aspects that are critical for maintaining investor trust and confidence in the market.
Topics Financial Services & Investing）
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