LIVEPERSON CLASS ACTION LAWSUIT: an authoritative guide to YOUR RIGHTS AND OPTIONS AS A SHAREHOLDER1/1/2024
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 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 as to 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. In this authoritative guide, we will break down and explain all of your rights and options in the LivePerson class action lawsuit. 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. WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE LIVEPERSON 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 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.
WHAT IS A SECURTIES FRAUD CLASS ACTION?
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 EFFECT 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 the LivePerson class action lawsuit. This means that defendants have the opportunity to challenge the sufficiency of the complaint filed in the LivePerson class action lawsuit before engaging in discovery, with some limited exceptions.. Perhaps most relevant at this stage of the proceedings, is that 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 CLASS ACTION 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.
Pursuant to the PSLRA, 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. The PSLRA then requires anyone who wants to be lead plaintiff on behalf of the class in the LivePerson class action lawsuit 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?
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 IS THE LEAD PLAINTIFF APPOINTMENT PROCESS UNDER THE PSLRA?
The PSLRA established certain procedures for appointing the lead plaintiff. For example, each plaintiff who moves to become the lead plaintiff must provide a sworn certification that:
The court must appoint the lead plaintiff that has the largest financial interest in the relief sought by the class, as determined by the court, and otherwise satisfies the requirements of Rule 23 of the Federal Rules of Civil Procedure. This presumption can be rebutted only if a purported class member proves that the presumptively most adequate plaintiff (1) will not be able to fairly and adequately protect the interests of the class or (2) is subject to unique defenses that render them incapable of adequately representing the class. 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 the 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:
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 PSLRA, 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 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 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 lawsuit since you suffered losses in LivePerson stock.
WHAT IF I MISS THE LEAD PLAINTIFF DEADLINE IN THE LIVEPERSON CLASS ACTION LAWSUIT?
If you purchased shares during the class period and suffered losses in suffered losses in LivePerson stock, then you will automatically be a class member and entitled to share in any potential settlement or recovery. Your ability to be a class member and recover your losses is not dependent on you serving as a lead plaintiff. The sixty-day deadline applies only to those shareholders seeking to be a lead plaintiff in the 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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