Lightspeed (LSPD) announced the District Court for the Eastern District of New York has dismissed in full the securities class action lawsuit against the company and certain of its executives. The decision states that the allegations had no adequate legal basis. The lawsuit, which stemmed from allegations largely based on a short-seller report published by Spruce Point Capital Management in September 2021, was found to lack merit. The Court ruled that the plaintiff failed to allege any actionable claims.
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