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LPSN.US
id: 624
LivePerson (LPSN) Investors Case
E.D. New York
Court1:23-cv-3078
Case number05/10/2022
Class period Start03/16/2023
Class period End06/23/2023
Lead Plaintiff motion deadline- LivePerson disclosed that WildHealth, the Company's subsidiary, received a notice that Medicare was suspending reimbursements for services.
- $LPSN price declined 57.72%, damaging investors.
- Investors suspect LivePerson, its Leaders & Service Providers of negligence or failure to properly disclose material information.
On March 15, 2023, LivePerson (LPSN) disclosed that WildHealth, the Company's subsidiary, 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 Q4 of 2022 for which payment has not yet been collected.
- LivePerson 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, the $LPSN price declined 57.72%, damaging investors.
Taking all facts into account, Investors may have reasons to suspect LivePerson, its Leaders & Service Providers of negligence or failure to properly disclose material information.
Case Status
Voluntary Dismissed
Alleged Offence
Mismanagement,
Misleading Statements,
Failure to Disclose,
Malpractice,
Negligence,
Omissions
Suspected Party
Directors,
Management,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
03/15/2023
Lead Plaintiff Deadline
06/23/2023