Singapore markets open in 7 hours 50 minutes
  • Straits Times Index

    3,116.32
    +14.39 (+0.46%)
     
  • S&P 500

    4,582.54
    +44.11 (+0.97%)
     
  • Dow

    35,212.76
    +632.68 (+1.83%)
     
  • Nasdaq

    15,118.34
    +32.86 (+0.22%)
     
  • BTC-USD

    49,116.24
    +613.84 (+1.27%)
     
  • CMC Crypto 200

    1,264.80
    +4.64 (+0.37%)
     
  • FTSE 100

    7,232.28
    +109.96 (+1.54%)
     
  • Gold

    1,785.50
    +1.60 (+0.09%)
     
  • Crude Oil

    68.21
    +1.95 (+2.94%)
     
  • 10-Yr Bond

    1.3920
    +0.0490 (+3.65%)
     
  • Nikkei

    27,927.37
    -102.20 (-0.36%)
     
  • Hang Seng

    23,349.38
    -417.31 (-1.76%)
     
  • FTSE Bursa Malaysia

    1,483.45
    -18.29 (-1.22%)
     
  • Jakarta Composite Index

    6,547.12
    +8.61 (+0.13%)
     
  • PSE Index

    7,130.74
    +75.55 (+1.07%)
     

LIGHTSPEED COMMERCE ALERT: Bragar Eagel & Squire, P.C. is Investigating Lightspeed on Behalf of Lightspeed Stockholders and Encourages Investors to Contact the Firm

  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK, October 05, 2021--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Lightspeed Commerce Inc. ("Lightspeed" or the "Company") (NYSE: LSPD) on behalf of Lightspeed stockholders. Our investigation concerns whether Lightspeed has violated the federal securities laws and/or engaged in other unlawful business practices.

Click here to participate in the action.

On September 29, 2021, market analyst Spruce Point Capital Management ("Spruce Point") published a report regarding Lightspeed. Spruce Point also published a press release summarizing its findings. The summary stated, among other things, that "[e]vidence shows that Lightspeed massively inflated its business pre-IPO, overstating its customer count by 85% and gross transaction volume (‘GTV’) by 10% – a payment volume metric that a former employee described as ‘smoke and mirrors’"; that there was "[e]vidence of declining organic growth and business deterioration through Lightspeed’s IPO, despite management’s claims that Average Revenue Per User (‘ARPU’) is increasing"; that the Company’s "[r]ecent acquisition spree has come at escalating costs with no clear path to profitability, while management pursues aggressive revenue reporting practices"; and that there were "[w]eak governance standards and worrisome auditor oversight by PwC under a concerning CFO, who was tied to a prior technology roll-up scandal."

On this news, Lightspeed’s share price fell $13.73 per share, or 12.2%, to close at $98.77 per share on September 29, 2021.

If you purchased or otherwise acquired Lightspeed shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211004006019/en/

Contacts

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting