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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 Contact a LivePerson Stock Loss Lawyer about a 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, or just have general questions about your rights as a shareholder, please contact LivePerson Stock Loss Lawyer Timothy L. Miles, at no charge 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. At this early stage in the lawsuit, most LivePerson investors are probably wondering what they are supposed to do if anything in the LivePerson class action lawsuit. Fortunately, in this extensive article, we will break down all of the options shareholders have at this early stage of the litigation, including the lead plaintiff process, opting out, or simply doing nothing. Hopefully, by the end, you will have a better understanding of the proceedings and the law and will be able to make an informed decision that is best for you. We will first start with the basics of a securities fraud lawsuit and then take a deep dive into investor options. what are the ALLEGATIONS IN THE LIVEPERSON CLASS ACTION LAWSUIT? Contact us about a LivePerson class action lawsuit if you suffered losses in LIvePerson stock
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 complaint 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%. WHAT IS A SECURTIES FRAUD CLASS ACTION SUCH AS THE Liveperson CLASS ACTION LAWSUIT?
A securities fraud class action refers to a legal action taken by a group of investors who have suffered financial losses as a result of fraudulent activities committed by a company or its executives. This type of lawsuit is typically filed when a company misrepresents or withholds important information from investors, leading to a decline in the value of their investments. The purpose of a securities fraud class action is to seek compensation for the affected investors and hold the company accountable for its fraudulent practices. Securities fraud class actions are governed by the Private Securities Litigation Reform Act (PSLRA).
One notable securities fraud class action lawsuit is the LivePerson class action lawsuit. In this case, investors who purchased LivePerson securities alleged that the company made false and misleading statements and misled investors, and when the truth was ultimately disclosed, they suffered losses from purchasing shares that had been artificially inflated by the false and misleading information. Securities fraud class actions are typically initiated by a lead plaintiff or a group of lead plaintiffs who represent the interests of all the affected investors. The lead plaintiff is often an institutional investor or a large shareholder who has suffered substantial losses and possesses the resources and expertise to effectively pursue the lawsuit on behalf of the class. The lead plaintiff's role is crucial in coordinating with legal counsel, gathering evidence, and making strategic decisions throughout the litigation process. To proceed with a securities fraud class action, the lead plaintiff must demonstrate that there is a common issue of law or fact among the members of the class and that a class action is the most efficient and appropriate method for resolving their claims. If these requirements are met, the court will certify the lawsuit as a class action, allowing all eligible investors to participate in the litigation and share in any potential recovery. Once certified, the securities fraud class action typically goes through several stages, including discovery, where both parties exchange relevant documents and information, and motion practice, where each side presents legal arguments to the court. If the case does not settle during these stages, it may proceed to trial, where a jury or judge will determine liability and damages. In securities fraud class actions, the defendants are usually the company accused of fraud and its executives who were involved in the fraudulent activities. The lead plaintiff seeks damages on behalf of all class members, which may include compensation for their financial losses, interest, attorneys' fees, and other costs incurred throughout the litigation process. In conclusion, a securities fraud class action is a legal mechanism used by investors to seek compensation for financial losses resulting from fraudulent activities committed by a company. The LivePerson class action lawsuit serves as an example of how investors can hold companies accountable for their alleged misrepresentations and omissions. These lawsuits play an essential role in protecting investor rights and promoting transparency in the financial markets. WHAT IS THE PSLRA AND HOW DOES IT APPLY TO THE Liveperson CLASS ACTION LAWSUIT?
The LivePerson class action lawsuit is governed by the PSLRA. The PSLRA is a landmark legislation enacted in 1995 and aims to protect investors from baseless lawsuits while still allowing legitimate claims such as the LivePerson class action lawsuit to proceed. This act has had a significant impact on the securities litigation landscape, shaping the way class actions are brought and resolved.
One of the key provisions of the PSLRA is the requirement for plaintiffs to provide specific and particularized facts when alleging a misrepresentation or omission in a securities fraud case. Plaintiffs in the LivePerson class action lawsuit must state with particularity the facts giving rise to a strong inference that the defendant acted with fraudulent intent. Another important aspect of the PSLRA is the provision for a stay of discovery pending the resolution of any motions to dismiss in the LivePerson class action lawsuit. This means that defendants have the opportunity to challenge the sufficiency of the complaint filed in the before engaging in discovery. The PSLRA also requires courts to appoint lead plaintiffs and lead counsel in securities class actions such as the LivePerson class action lawsuit. This ensures that investors with the largest financial stake in the litigation are represented and have control over important decisions, such as settlement negotiations. The lead plaintiff must meet certain criteria, including having made a timely request to be appointed as lead plaintiff and having the largest financial interest in the relief sought by the class. WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE Liveperson LAWSUIT?
The lead plaintiff deadline in the LivePerson class action lawsuit is fast approaching, and investors who wish to participate in the case must act promptly. A securities class action lawsuit is a legal proceeding in which a group of investors who have suffered financial losses due to alleged fraudulent or misleading activities by a company join forces to seek compensation. In this case LivePerson and certain of its executives are accused of making false and misleading statements about its business prospects as well as filing false and misleading financial statements. The lead plaintiff deadline is the date by which an investor must file a motion with the court to be appointed as the lead plaintiff in the class action lawsuit.
When a securities class action is filed such as the LivePerson class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the LivePerson class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. WHAT IS THE APPOINTMENT OF LEAD PLAINTIFFS UNDER THE PSLRA IN THE Liveperson CLASS ACTION LAWSUIT?
Under the PSLRA, the appointment of lead plaintiffs in securities class action lawsuits is a critical step in the litigation process. One of the key provisions of the PSLRA is the requirement for the court to appoint a lead plaintiff to represent the interests of the class members in the LivePerson class action lawsuit. This appointment is made within 90 days of the filing of the LivePerson class action lawsuit, and the lead plaintiff is responsible for overseeing the litigation on behalf of all other class members.
The appointment of lead plaintiffs serves several important purposes. First and foremost, it ensures that the interests of the class members in the LivePerson class action lawsuit are adequately represented in the litigation. By appointing a lead plaintiff who has a financial stake in the outcome of the LivePerson class action lawsuit, the court can be confident that the litigation will be pursued diligently and in a manner that maximizes recovery for all class members. Additionally, having a lead plaintiff who is actively involved in the LivePerson class action lawsuit allows for efficient coordination and communication between class members and their legal counsel. To be eligible for appointment as a lead plaintiff in the LivePerson class action lawsuit an individual or entity must meet certain criteria as outlined in the PSLRA. These criteria include having the largest financial interest in the relief sought by the class and being able to adequately represent the class members' interests. The PSLRA also requires potential lead plaintiffs to submit a certification stating that they are willing to serve as lead plaintiffs and that they will not accept any payment or settlement that is inconsistent with the interests of the class. In conclusion, the appointment of lead plaintiffs under the PSLRA is a crucial step in securities class action lawsuits. It ensures that the interests of class members are adequately represented and allows for efficient coordination and communication between class members and their legal counsel. By setting forth specific criteria for eligibility, the PSLRA aims to select lead plaintiffs who have a financial stake in the outcome of the case and are committed to pursuing maximum recovery for all class members. WHAT ARE MY 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.
IF I RECEIVE A SETTLEMENT FROM FINRA CAN I STILL PARTICIPATE IN THE LIVEPERSON LAWSUIT?
Yes, the acceptance of restitution or compensation from a FINRA regulatory settlement does not waive your right to monetary or other benefits through the courts, arbitration, or mediation. Therefore, even if you received a settlement from FINRA, you could still participate in the LivePerson lawsuit.
CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE LIVEPERSON CLASS ACTION LAWSUIT?
Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in LivePerson stock, they may move the Court to be appointed lead plaintiff in the LivePerson class action lawsuit.
WHAT ARE 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 LivePerson class action lawsuit if you suffered significant losses in LivePerson stock. WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE LIVEPERSON CLASS ACTION LAWSUIT?
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the LivePerson class action lawsuit . Some of the responsibilities of the Lead Plaintiff in the LivePerson class action lawsuit include:
CAN I BE APPOINTED LEAD PLAINTIFF IN THE LIVEPERSON CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?
No. Even if you suffered losses in LivePerson stock, if you purchased securities outside of the Class period, you will not be able to participate in the LivePerson class action lawsuit.
WILL THE LEAD PLAINTIFFS 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.
CAN I BE LEAD PLAINTIFF IN THE LIVEPERSON CLASS ACTION LAWSUIT IF I AM LEAD PLAINTIFF IN ANOTHER CASE?
Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in LivePerson stock, you may move to be appointed lead plaintiff in the LivePerson class action lawsuit.
CAN THE COURT 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.
CAN I SELL MY STOCK AND STILL BE A MEMBER OF THE CLASS IN THE LIVEPERSON CLASS ACTION LAWSUIT?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the LivePerson class action lawsuit.
HOW CAN A LIVEPERSON STOCK LOSS LAWYER HELP ME IF I SUFFERED LOSSES IN LIVEPERSON STOCK?
A LivePerson stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions. One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021). This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE LIVEPERSON LAWSUIT?
If you purchased shares during the class period and suffered losses in LivePerson stock, then you are most likely a member of the class in the LivePerson lawsuit and may participate in the LivePerson class action lawsuit since you suffered losses in LivePerson stock.
IF I SUFFERED LOSSES IN LIVEPERSON STOCK, WHEN CAN I EXPECT TO RECEIVE MY 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. IF THERE IS A SETTLEMENT IN THE LIVEPERSON LAWSUIT, AND I DO NOT THINK IT IS FAIR, WHAT ARE MY OPTIONS AS A CLASS MEMBER?
If you receive a notice that the LivePerson class action lawsuit has been settled and you do not believe the settlement is fair but do not want to opt-out and file your own lawsuit, you may object to the settlement. You may object to any part of the settlement and the Court will consider all timely filed objections in the class action against LivePerson. The notice will contain the date when any objections must be filed and will include instructions on where to send your objection and will also include a date for the final hearing in the LivePerson class action lawsuit if you would like to appear and be heard by the court in the LivePerson class action lawsuit.
HOW MUCH DOES IT COST TO HIRE A LIVEPERSON STOCK LOSS LAWYER IF I SUFFERED LOSSES IN LIVEPERSON STOCK?
Nothing. If you suffered losses in LivePerson and are a member of the class, it does not cost anything to hire a LivePerson stock loss lawyer. Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery, and the attorney fees and costs are awarded by the court as a percentage of the total recovery for the class. So, contact a LivePerson stock loss lawyer today if you suffered losses in LivePerson stock about a LivePerson class action 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.
LivePerson stock loss lawyer Timothy L. MilesNashville 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. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® 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-Hubbell®, 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,Class Action: Class Action: Top National 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-Hubbell® and ALM (2019-2022); Americas Most Honored Lawyers 2020 – Top 1% by America'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. Comments are closed.
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