NEW YORK, May 08, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of LivePerson, Inc. (NASDAQ: LPSN), Trinseo PLC (NYSE: TSE), and Edgio, Inc. (NASDAQ: EGIO). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
LivePerson, Inc. (NASDAQ: LPSN)
Class Period: May 10, 2022 - March 16, 2023
Lead Plaintiff Deadline: June 23, 2023
On March 15, 2023, LivePerson issued a press release announcing its fourth quarter 2022 financial results. The Company 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 fourth quarter 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 price of LivePerson shares declined by $5.64 per share, or approximately 57.72%, from $9.77 per share to close at $4.13 on March 15, 2023.
For more information on the LivePerson class action go to: https://bespc.com/cases/LPSN
Trinseo PLC (NYSE: TSE)
Class Period: May 3, 2021 - March 27, 2023
Lead Plaintiff Deadline: June 20, 2023
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) the Company’s Bristol, Pennsylvania plant had a troubled safety record while under prior ownership and continued to be unsafe after the Company acquired it; (2) Defendants did not sufficiently disclose specific risks related to conducting operations at that plant; (3) Operating a chemical plant with an unsafe history and presently unsafe operations exposed the Company to a heightened risk of a chemical spill or other adverse event; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Trinseo class action go to: https://bespc.com/cases/TSE
Edgio, Inc. (NASDAQ: EGIO)
Class Period: February 11, 2021 - March 12, 2023
Lead Plaintiff Deadline: June 26, 2023
On March 13, 2023, before the market opened, Edgio issued a press release announcing that it will restate its previously issued financial statements for the years ended December 31, 2021 and 2020, as well as the quarterly reports for fiscal 2022 and 2021, because its audit committee “identified an error in the Company’s historic accounting treatment of Edgio’s Open Edge solution.” The Company anticipated the restatements would result in a “reduction to revenue of up to approximately $23.0 million for the nine-month period ended September 30, 2022, up to approximately $16.7 million for the twelve-month period ended December 31, 2021, and up to approximately $6.6 million for the twelve-month period ended December 31, 2020.” As a result, the Company stated that it would be unable to file its annual report on time.
On this news, the Company’s share price fell $0.1597, or 15.5%, to close at $0.8703 per share on March 13, 2023, thereby injuring investors.
Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the sale of Open Edge equipment should be accounted as financing leases; (2) that there were material weaknesses in the Company’s internal controls over financial reporting related to Open Edge transactions; (3) that, as a result, the Company’s revenue had been overstated in certain periods; and (4) that, as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the Edgio class action go to: https://bespc.com/cases/EGIO
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.