The Law Offices of Frank R. Cruz Announces Investigation of Lightspeed Commerce Inc. (LSPD) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Lightspeed Commerce Inc. (“Lightspeed” or the “Company”) (NYSE: LSPD) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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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.

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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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