Law Offices of Howard G. Smith announces an investigation on behalf of Lightspeed Commerce Inc. (“Lightspeed” or the “Company”) (NYSE: LSPD) investors concerning the Company’s possible violations of the federal securities laws.
On September 29, 2021, Spruce Point Capital Management published a report alleging, among other things, that the Company was overstating its customer count and gross transaction volume. On this news, Lightspeed's share price fell $13.73 per share, or more than 12%, to close at $98.77 per share on September 29, 2021.
Then, on November 4, 2021, Lightspeed announced that its near term financial outlook would be negatively impacted by “uncertainties in the macro environment including the ongoing effects of COVID-19 in various markets, supply chain issues impacting merchants' ability to stock inventory, and our own ability to add new customers who require Lightspeed hardware owing to shortages in our own supply chains.”
On this news, Lightspeed’s share price declined by approximately 30% during intraday trading on November 4, 2021.
If you purchased Lightspeed securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20211104006226/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
