Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Eastern District of New York on behalf of shareholders of LivePerson, Inc. who purchased shares between May 11, 2022 and March 16, 2023.
LivePerson and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 16, 2023, pre-market, the Company filed its 2022 Annual Report on Form 10-K for the year ended December 31, 2022, disclosing that “due to certain control deficiencies which aggregated to a material weakness in the Company’s internal control over financial reporting as further described below, our disclosure controls and procedures were not effective as of December 31, 2022.”
On this news, shares of LivePerson fell $5.64 per share, or 57.73%, to close at $4.13 per share on March 16, 2023.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 23, 2023 to request that the court appoint them lead plaintiff.