According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Lightspeed had misrepresented the strength of its business by, among other things, overstating its customer count, gross transaction volume (GTV), and increase in Average Revenue Per User (ARPU), while concealing the Company’s declining organic growth and business deterioration;
- Lightspeed had overstated the benefits and value of the Company’s various acquisitions;
- accordingly, the Company had overstated its financial position and prospects; and
- as a result, the Company’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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