The warrants have an exercise price of $0.45 and duration of two years.
“This is a business decision,” the company said in a statement.
“The company did not accept or admit responsibility for the claims made against it.”
Rolland did not elaborate on the nature of the suit.
The company said it agreed to compensate the claimant in the suit to reduce its legal costs.
Montreal-based Rolland sells software that allows businesses to establish direct interaction with their customers, suppliers, and partners on the Internet.
Its shares last traded Thursday at 45 cents on the TSX Venture Exchange.