Lightspeed Commerce, Inc.

Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.

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There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.

We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.

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The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com

The investigation concerns whether Lightspeed and certain of its directors and/or officers have engaged in securities fraud or other business practices that were unlawful. Market analyst Spruce Point Capital Management (“Spruce Point”) published a report on September 29, 2021 regarding Lightspeed as well as a press release summarizing its findings. In this summary it was stated, among other allegations, 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 Lightspeed’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 September 29, 2021, Lightspeed’s share price fell $13.73 per share, or 12.2%, to close at $98.77 on this news per share.