Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against LivePerson, Inc.

Upcoming Lead Plaintiff Deadline is January 30, 2024

NEW YORK, Dec. 12, 2023 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP  ("Wolf Haldenstein") announces that a federal securities  class action lawsuit has been filed against LivePerson, Inc. (NASDAQ:LPSN) ("LivePerson" or the "Company") on behalf of those who suffered losses from purchasing LivePerson securities between May 10, 2022 and March 16, 2023, inclusive.

All investors who purchased shares and incurred losses are  advised  to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses, you may, no later than January 30, 2024, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

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The filed complaint alleges that defendants made false and/or misleading statements
and/or failed to disclose that:

• LivePerson had material weaknesses with its internal controls that it failed to address;
• Medicare reimbursement for WildHealth had been suspended before September 30, 2022; and
• as a result, LivePerson's revenue attributable to WildHealth's participation in a Medicare demonstration program for the fourth quarter of 2022 was going to be negatively affected.

On February 28, 2023, before market hours, LivePerson announced that it would be unable to file its annual report on Form 10-K with the Securities and Exchange Commission on time. On this news, the price of LivePerson stock fell $1.69 per share, or 14.31%, to close at $10.12 per share on February 28, 2023.

On March 6, 2023, before market hours, the Company disclosed that it was reviewing WildHealth's revenue. The Company further disclosed that it anticipated that its review of WildHealth's revenue would affect the Company's revenue because WildHealth had been suspended from participating in the
Medicare reimbursement program in November 2022.

On this news, the price of LivePerson stock fell $0.78 per share, or 6.8%, to close at $10.69 on March 7, 2023.

On March 15, 2023, after market hours, the Company announced its financial results for the fourth quarter of 2022. The Company disclosed that its total revenue for the fourth quarter decreased by 1% year-over-year. The Company also disclosed that "due to certain control deficiencies," as of December 31, 2022, the Company's internal controls over financial reporting were not effective, and that "[t]he control deficiencies, which in aggregate constitute a material weakness," were discovered during the Company's review of certain transactions related to its subsidiary WildHealth.

On this news, the price of LivePerson stock fell $5.64, or 57.73%, to close at $4.13 per share on March
16, 2023.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP

Gregory Stone, Director of Case and Financial Analysis

Email: [email protected] or [email protected]

Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP