BOSTON, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Block & Leviton announces that a class action lawsuit has been filed against Lightspeed Commerce, Inc. (NYSE: LSPD) for potential securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/lspd.
What is this all about?
The complaint alleges that Lightspeed Commerce(i) misrepresented the strength of its business by overstating its customer count, gross transaction volume, and increase in Average Revenue Per User, while concealing the Company's declining organic growth and business deterioration; (ii) overstated the benefits and value of the Company's various acquisitions; (iii) accordingly, the Company overstated its financial position and prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shares of Lightspeed stock were down more than 10% in intraday trading on September 29, 2021 following a report issued by short seller, Spruce Point Capital.
Who is eligible?
Anyone who purchased Lightspeed Commerce, Inc. stock between September 11, 2020 and September 28, 2021 is potentially eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is January 18, 2022. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email email@example.com with any questions.
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Phone: (617) 398-5600
SOURCE: Block & Leviton LLP