A lawsuit was filed on behalf of investors in LivePerson, Inc. (NASDAQ: LPSN) shares over alleged securities laws violations.

An investor, who purchased shares of LivePerson, Inc. (NASDAQ: LPSN), filed a lawsuit over alleged violations of Federal Securities Laws by LivePerson, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of LivePerson, Inc. (NASDAQ: LPSN) have certain options and for certain investors are short and strict deadlines running. Deadline: January 30, 2024. NASDAQ: LPSN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based LivePerson, Inc. provides mobile and online business messaging solutions that power digital communication between brands and consumers.

On February 28, 2023, LivePerson, Inc. issued a Notification of Late Filing on Form 12b-25 regarding its Annual Report on Form 10-K for the year ended December 31, 2022 (the "2022 10-K"). Among other things, the notification revealed that, as a result of LivePerson's acquisition of WildHealth, "the Company requires more time to perform additional review and testing of revenue recognition with respect to a recently discontinued WildHealth program, for which Medicare reimbursement is suspended pending further governmental review, and to complete its in-process review of internal controls and procedures."

On March 6, 2023, LivePerson, Inc issued a current report on Form 8-K which disclosed that "the referenced review of WildHealth revenue is anticipated to affect fourth quarter 2022 revenue attributable to WildHealth's participation in a Medicare demonstration program, due to suspension in November 2022 of Medicare reimbursements under the program and pending further governmental review."

On March 15, 2023, LivePerson, Inc. reported its fourth quarter 2022 financial results. LivePerson, Inc. also stated the company's subsidiary, WildHealth, participated in a Medicare demonstration program in 2022, offering certain non-core services that were reimbursed by Medicare. However, in November 2022, WildHealth was notified by Medicare that reimbursements for services rendered under the Program were being suspended pending further review.

Finally, on March 16, 2023, LivePerson, Inc filed the 2022 10-K with the United States Securities and Exchange Commission. The 2022 10-K revealed that "due to certain control deficiencies which aggregated to a material weakness in the Company's internal control over financial reporting as further described below, our disclosure controls and procedures were not effective as of December 31, 2022" and "[t]he control deficiencies, which in aggregate constitute a material weakness, were identified in connection with the Company's previously disclosed review of certain transactions related to its subsidiary WildHealth."

Shares of LivePerson, Inc. (NASDAQ: LPSN) declined from $18.17 per share on February 03, 2023, to as low as $3.64 per share on March 20, 2023.

The plaintiff claims that between May 10, 2022 and March 16, 2023, the defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's disclosure controls and procedures contained a material weakness; (ii) accordingly, LivePerson maintained deficient internal controls over its financial reporting; (iii) as a result, LivePerson's Q3 2022 financial statements failed to disclose the suspension of WildHealth's Medicare reimbursements in connection with the Program and the resulting negative impact on the Company's future revenues; (iv) accordingly, LivePerson had overstated the Company's future financial position and/or prospects; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of LivePerson, Inc. (NASDAQ: LPSN) have certain options and should contact the Shareholders Foundation.

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com