NEW YORK, April 12, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against LivePerson, Inc. (NASDAQ: LPSN), and Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
LivePerson, Inc. (NASDAQ: LPSN)
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 investigation go to: https://bespc.com/cases/LPSN
Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY)
On March 28, 2023, Scorpion Capital ("Scorpion") published a short report on Harmony, which Scorpion described as "[o]ne of the most thoroughly corrupt healthcare schemes in recent years, deserving of criminal and political scrutiny". Scorpion described "Harmony's drug Wakix (pitolisant) [as] a repeat of the Seldane (terfenadine) saga, another histamine antagonist that the FDA pulled from the market and which is the poster child for cardiac toxicity via fatal QT prolongation/arrhythmia." Scorpion asserted that it "obtained dozens of serious adverse event reports from the FDA via Freedom of Information Act requests filed over several months, and they paint a devastating picture of the drug's risk to even young, otherwise healthy patients, including a recent sudden cardiac death, 2 weeks after starting Wakix on the day it was titrated to the highest dose."
On this news, Harmony's stock price fell sharply during intraday trading on March 28, 2023.
For more information on the Harmony investigation go to: https://bespc.com/cases/HRMY
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.