LivePerson, Inc.

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After the market closed on March 15, 2023, LivePerson, Inc. announced Q4 and full year 2022 earnings and disclosed “control deficiencies, which in aggregate constitute a material weakness, were identified in connection with the Company’s previously disclosed review of certain transactions related to its subsidiary WildHealth, which was acquired in February 2022…”

Previously, on February 28, 2023, LivePerson announced a delay in finalizing Form 10-K for the year ended December 31, 2022, stating, “[t]his extension provides the Company with added 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. WildHealth was acquired by LivePerson in 2022, and integration remains in process.”

Shares of LivePerson dropped sharply in afterhours trading on March 15, 2023 and plunged by more than 55% in intraday trading when the market opened on March 16, 2023.

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