#Class Action #Canada #Montreal #Lightspeed Commerce #Settlement

Settlement of the Class Action Against Lightspeed Commerce

On December 4, 2025, a significant legal development concerning Lightspeed Commerce Inc. was announced, revealing a class action lawsuit that has been brought against the company and several of its executives, including PricewaterhouseCoopers LLP. This class action pertains to claims that the defendants provided misleading information about Lightspeed's financial performance in various public statements.

The legal process culminated with an approval from Justice Lukasz Granosik of the Quebec Superior Court. On November 25, 2025, the judge granted permission for a settlement that neither admits fault nor wrongdoing on the part of the defendants, who continue to deny the allegations raised against them. This resolution is aimed at addressing the grievances of individuals and entities who purchased securities of Lightspeed Commerce Inc. or Lightspeed POS Inc. within a specified timeframe between March 7, 2019, and November 3, 2021.

Summary of the Settlement Terms

The approved settlement includes a payout of CAD 11 million, intended to conclusively resolve all claims brought against Lightspeed and its affiliates. According to court determinations, attorney fees for the class lawyers have been set at one-third (33.33%) of the total settlement amount, inclusive of expenses and applicable taxes. Prior to distributing any remaining funds to the class members, these legal costs will be deducted. The net settlement amount will then be allocated proportionally among eligible members based on an approved allocation plan, detailed at LightspeedSettlement.com.

Claims Submission Deadline

In order to be eligible for compensation from this settlement, class members are required to submit a completed claim form by March 4, 2026. This form can be accessed or downloaded from the previously mentioned website or can be obtained by contacting the settlement administrator at 1-888-350-7708. It's crucial to highlight that any individual who fails to submit a valid claim by the deadline will forfeit their right to any portion of the net settlement amount.

The court has appointed Concilia Services Inc. to oversee the administration of the settlement, which includes duties like processing claim forms, verifying eligibility for compensation, and disbursing the net settlement to eligible members. The claims form can be submitted securely online, with the option for paper submission available only to those without internet access. In such cases, the paperwork must be mailed to the settlement administrator at the following address:

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CONCILIA SERVICES INC.
1-5900 Andover Ave.
Montreal, QC H4T 1H5
Phone: 1-888-350-7708
Email: [email protected]
```

This communication is labeled “Lightspeed Commerce Inc. Class Action Proceedings” for clarity.

Contact for Queries

For inquiries regarding the claims process, claim forms, supporting documents, or ascertain eligibility as a group member, individuals are encouraged to reach out to the administrator, Concilia Services Inc. For other questions, legal counsel provided by Lea Bruyere LPC Avocats Inc. can be contacted:

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Me Lea Bruyere
276 Saint-Jacques Street, Suite 801
Montreal, QC H2Y 1N3
Phone: 514-379-1572
Fax: 514-221-4441
Email: [email protected]
```

Additional insights can be gleaned from resources available at faguyco.com/class-actions/lightspeed, and essential documents related to the class action are accessible through the Quebec Class Actions Register.

Broker Notification Requirement

Brokerage firms are urged to distribute this notice to their clients who purchased Lightspeed securities in the defined period. Notices must be sent via e-mail in both English and French where valid email addresses are available. For clients without such addresses, the notice must be sent via standard mail. Additionally, brokerage companies may collectively apply for reimbursement up to CAD 15,000 to cover the costs associated with disseminating this notice to group members, contingent on total claims not exceeding the stated amount.

The court has sanctioned this notice, and all queries concerning addresses should NOT be directed to the court.