Q: Today I received a letter from my broker TD regarding a proposed settlement by a class action suit for purchasers of Lightspeed (LPSD) shares between March 7th 2019 and November 3rd 2021. Since I did purchase 200 shares within that timeframe I am wondering whether it is worth completing the relevant forms? Do you have any estimate of the payment which I might receive if I submit the required information before the deadline of March 4th 2026?
many thanks for your great service.
Geoff
many thanks for your great service.
Geoff
5i Research Answer:
Since there is no cost to participate, and court victory is 'free' money to shareholders. However, it becomes a question of time to complete forms versus possible settlement. LSPD has agreed to pay $11M, before taxes and legal fees. So it now becomes a question of how many shareholders participate. 200 is not a lot of shares, as there would have been multi millions of shares traded during the set period. But...there has been a settlement, and some money will be paid to all claiming shareholders. In this case, we would fill out the forms. A payment might only be $50 to $100, but if it takes only a brief time to fill in the forms it is still money.