The payment, on which a Quebec Superior Court judge signed off in November, stems from a class action lawsuit filed in October 2021 alleging the Montreal-based payments company overstated its customer accounts, transaction volume and potential market size in public filings and statements. (The Logic)

Talking point: The class action lawsuit came as a result of a report by New York City-based short seller Spruce Point, which alleged the company has “not been transparent about competitive pressures and material margin decline.” The company’s share price plummeted in the wake of the report and has yet to recover. As part of the settlement, Lightspeed admits no liability, and it denies claims of wrongdoing.