LIVEPERSON, INC. 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 EASTERN DISTRICT OF NEW YORK AGAINST LIVEPERSON, INC

LEAD PLAINTIFF DEADLINE IS JUNE 23, 2023

NEW YORK, May 3, 2023 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP  ("Wolf  Haldenstein") announces that a federal securities class action lawsuit has been filed on behalf of investors who purchased LivePerson, Inc. ("LivePerson" or the "Company") (NASDAQ: LPSN) securities between May 10, 2022 and March 16, 2023, inclusive (the "Class Period").

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 June 23, 2023, 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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On February 28, 2023, before market hours, LivePerson disclosed that it would be unable to timely file its Annual Report due to the Company's acquisition of its subsidiary, WildHealth, requiring "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, LivePerson's stock price fell $1.69, or 14.3%, to close at $10.12 per share on February 28, 2023.

Then, on March 6, 2023, the Company stated that the "review of WildHealth revenue [was] anticipated to affect fourth quarter 2022 revenue."

On this news, LivePerson's stock price fell $0.19, or 1.8%, to close at $10.00 per share on March 7, 2023.

On March 15, 2023, LivePerson issued a press release announcing its fourth quarter 2022 financial results. Therein, the Company disclosed that WildHealth received a notice that Medicare was suspending reimbursements for services rendered under the Medicare demonstration program pending further review. As a result, LivePerson elected to take a reserve for revenue associated with such services in the fourth quarter of 2022 for which payment has not yet been collected. The Company further disclosed that, had the Company recognized revenues associated with services delivered under the program during the fourth quarter of fiscal 2022, its revenue would have been within the previous guidance ranges for the fourth quarter and full year.

On this news, LivePerson's stock price fell $5.64, or 57.7%, 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
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [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