NEW YORK, May 19, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of LivePerson, Inc. ("LivePerson" or the "Company") (NASDAQ: LPSN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether LivePerson and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On March 15, 2023, LivePerson issued a press release announcing its fourth quarter 2022 financial results, in which the Company reported a loss and revenue decline. In its press release, LivePerson also revealed that its subsidiary, WildHealth, received a notice that Medicare was suspending reimbursement for services rendered under the Medicare demonstrate program (the "Program") in which certain non-core services would be provided and reimbursed by Medicare. Accordingly, LivePerson stated that given the "inherent uncertainty as to the timing and amount of further reimbursement for services rendered under the Program, the Company has elected to take a reserve for revenue associated with services delivered under the Program in the fourth quarter of 2022 for which payment has not yet been collected."
On this news, LivePerson's stock price fell $5.64 per share, or 57.73%, to close at $4.13 per share on March 16, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
