LEGAL GUIDES FOR INVESTORS
If you suffered losses in LivePerson stock, contact LivePerson stock loss lawyer Timothy L. Miles about a LivePerson class action lawsuit
INTRODUCTION TO THE LIVEPERSON CLASS ACTION LAWSUIT
The LivePerson class action lawsuit seeks to represent purchasers or acquirers of LivePerson, Inc. (NASDAQ: LPSN) securities between May 10, 2022 and March 16, 2023, inclusive (the “Class Period”). Captioned Damri v. LivePerson, Inc., No. 23-cv-10517 (S.D.N.Y.), the LivePerson class action lawsuit charges LivePerson and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in LivePerson stock and wish to serve as lead plaintiff in the LivePerson class action lawsuit, please contact LivePerson class action lawsuit Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the LivePerson class action lawsuit must be filed with the court no later than January 30, 2024.
Read on as we summarize everything a LivePerson investor needs to know about the LivePerson class action lawsuit.
the ALLEGATIONS IN THE LIVEPERSON CLASS ACTION LAWSUIT
LivePerson delivers mobile and online messaging solutions through Conversational Artificial Intelligence. In February 2022, LivePerson acquired WildHealth, Inc., a precision medicine service, according to the complaint. The complaint further alleges that in November 2022, unbeknownst to investors, WildHealth received notice that reimbursements for its services rendered under a Medicare demonstration program related to COVID-19 testing (the “Program”) were suspended pending further review.
The LivePerson class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) LivePerson’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 third quarter 2022 financial statements failed to disclose the suspension of WildHealth’s Medicare reimbursements in connection with the Program and the resulting negative impact on LivePerson’s future revenues; and (iv) accordingly, LivePerson had overstated its future financial position and/or prospects.
The LivePerson class action lawsuit further alleges that on February 28, 2023, LivePerson revealed that, as a result of LivePerson’s acquisition of WildHealth, “[LivePerson] 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 this news, the price of LivePerson stock fell more than 14%, according to the complaint.
Then, as the LivePerson class action lawsuit further alleges, on March 6, 2023, LivePerson 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.” The LivePerson class action lawsuit alleges that on this news, the price of LivePerson stock fell nearly 7%.
Finally, the complaint further alleges that on March 16, 2023, LivePerson revealed that “due to certain control deficiencies which aggregated to a material weakness in the Company’s internal control over financial reporting . . ., 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.” The LivePerson class action lawsuit alleges that on this news, the price of LivePerson stock fell nearly 58%.
your CHOICES IF I RECEIVE A NOTICE IN THE LIVEPERSON CLASS ACTION LAWSUIT
First, read the notice very carefully. You have two choices. First, you can do nothing and remain a member of the class represented by lead counsel. Second, if you believe you have a large enough loss to justify it, you can opt out of the LivePerson class action lawsuit and file your own separate lawsuit. Note, that if you opt out, you will not be able to participate in any settlement or recovery obtained in the LivePerson class action lawsuit.
THE LEAD PLAINTIFF PROCESS IN THE LIVEPERSON CLASS ACTION LAWSUIT
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in LivePerson stock to seek appointment as lead plaintiff in the LivePerson class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in LivePerson stock and have further questions, contact LivePerson stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a LivePerson class action lawsuit if you suffered losses in LivePerson stock.
THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE LIVEPERSON CLASS ACTION LAWSUIT
Serving as a Lead Plaintiff in the LivePerson class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against LivePerson if you suffered significant losses in LivePerson stock.
THE LEAD PLAINTIFFS will not GET MORE MONEY THAN CLASS MEMBERS IF THE LIVEPERSON CLASS ACTION LAWSUIT SETTLES
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the LivePerson class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the LivePerson class action lawsuit on behalf of investors who suffered losses in LivePerson stock.
THE COURT may APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE LIVEPERSON CLASS ACTION LAWSUIT
Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the LivePerson class action lawsuit.
THE CLASS PERIOD DETERMINation IN THE LIVEPERSON LAWSUIT
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
To be a part of the class in the LivePerson lawsuit, you must have suffered losses in LivePerson stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against LivePerson.
HOW MUCH CAN you GET OUT OF THE LIVEPERSON CLASS ACTION LAWSUIT?
In a securities fraud class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in LivePerson stock. Contact a LivePerson stock loss lawyer who could explain your losses in greater detail if you suffered losses in LivePerson stock.
WHEN CAN you can EXPECT TO RECEIVE a PAYMENT IF THE LIVEPERSON CLASS ACTION LAWSUIT SETTLES
If there is a settlement in the LivePerson class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold LivePerson stock during the class period and suffered losses in LivePerson stock.
The court will hold a final hearing in the LivePerson class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the LivePerson lawsuit.
CONTACT A LIVEPERSON STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN LIVEPERSON STOCK ABOUT A LIVEPERSON CLASS ACTION LAWSUIT
If you suffered losses in LivePerson stock, contact LivePerson stock loss lawyer Timothy L. Miles today for a free case evaluation about a LivePerson class action lawsuit. Call today and see what a LivePerson stock loss lawyer could do for you if you suffered losses in LivePerson stock.
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Milesâ€™ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-HubbellÂ® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-HubbellÂ®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,â€‹Class Action: Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-HubbellÂ® and ALM (2019-2022); Americaâ€™s Most Honored Lawyers 2020 â€“ Top 1% by Americaâ€™s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
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