Lightspeed Commerce (LSPD) said Monday it has agreed to resolve a proposed class action lawsuit in Quebec following the recent dismissal of a parallel US securities class action in which the court found the allegations had no adequate legal basis.
The settlement, subject to the approval of the Superior Court of Quebec, is meant to settle and discharge all claims by class members, the company said.
The amount of the settlement is approximately $8.1 million, the company said.
As part of the settlement, the company said it and the other defendants admit no liability and deny all allegations of wrongdoing.
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