Company: LPSN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001102993-25-000053
Chunk: 106

Company: LIVEPERSON INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 In connection with the restructuring initiatives, the Company recognized restructuring costs of $1.3 million and $3.3 million during the three months ended March 31, 2025 and 2024, respectively, which is included in restructuring costs in the accompanying condensed consolidated statements of operations. Such costs primarily include severance and other compensation costs as well as IT infrastructure contract termination costs. The restructuring activities were considered to be substantially completed as of March 31, 2025. The following table presents the detail of the liability for the Company’s restructuring charges, which is included within Accrued expenses and other current liabilities within the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024:

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

March 31,2025December 31,2024(In thousands)Balance, beginning of the year$3,028 $2,076 IT contract termination costs— (1,217)Severance and other associated costs1,305 12,356 Cash payments(3,127)(10,187)Balance, end of period$1,206 $3,028 The following table presents the detail of expenses for the Company’s restructuring charges for the three months ended March 31, 2025 and 2024:Three Months EndedMarch 31,20252024(In thousands)IT contract termination costs$— $715 Severance and other associated costs1,305 2,594 Total restructuring costs$1,305 $3,309 

Note 13. Legal Matters 

Stockholder LitigationIn December 2023, a putative stockholder class action entitled Damri v. LivePerson, Inc., No. 1:23-cv-10517, was filed under the federal securities laws against the Company, its former Chief Executive Officer, and its Chief Financial Officer in the United States District Court for the Southern District of New York. The complaint alleges that the Company’s Form 10-Q filings and forecasts for the first, second, and third quarters of fiscal year 2022 were false and misleading in violation of Section 10(b) of the Securities Exchange Act of 1934, based on the Company’s later disclosures and report on Form 10-K on March 16, 2023. On May 31, 2024, the plaintiff filed an amended complaint. The Company moved to