The Montreal-headquartered fintech cleared up proposed class-action proceedings in a Quebec superior court Tuesday. It did not admit any wrongdoing as part of the settlement, denying all allegations. The settlement still remains contingent on the court’s approval, the company said. Lightspeed’s stock fell one per cent as of midday Tuesday. (The Logic)

Talking point: The settlement comes after a parallel U.S. securities class-action against Lightspeed that was dismissed in early March. That lawsuit stemmed largely from allegations short-seller Spruce Point Capital Management made in a report, which alleged the company inflated its numbers prior to going public, had declining organic growth and lacked a clear path to profitability. Lightspeed also disclosed in May that it took a US$556-million goodwill writedown, owing to its net assets exceeding its market value on March 31.