Montréal-based Lightspeed Commerce will pay $11 million CAD with no admission of liability to settle a class-action lawsuit brought by investors in 2021, a Québec Superior Court judge ruled on Nov. 25.

Lightspeed will admit no wrongdoing or liability as part of the $11-million settlement.

The publicly listed retail technology company was accused of misrepresenting financial reports and key metrics in a report by a New York investment firm in 2021, prompting a class-action lawsuit by retail investors Steve Holcman and Tarique Plummer. Lightspeed will admit no wrongdoing or liability as part of the settlement, which was first proposed in June .

The members of the class-action suit eligible for a payout are all individuals and entities who bought Lightspeed securities between March 7, 2019

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