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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Expensify, National Instruments, and LivePerson and Encourages Investors to Contact the Firm

NEW YORK, Jan. 10, 2024 (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 Expensify, Inc. (NASDAQ: EXFY), National Instruments Corporation (NASDAQ: NATI), and LivePerson, Inc. (NASDAQ: LPSN). 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.

Expensify, Inc. (NASDAQ: EXFY)

Class Period: pursuant and/or traceable to the Offering Documents issued in connection with the Company’s initial public offering conducted on or about November 11, 2021 (the "IPO" or "Offering")

Lead Plaintiff Deadline: January 29, 2024

Expensify provides a cloud-based expense management software platform to individuals, small businesses, and corporations in the U.S. and internationally. The Company's platform purportedly enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel, and Expensify offers track and submit plans for individuals.

On October 15, 2021, Expensify filed a registration statement on Form S-1 with the SEC in connection with the IPO, which, after several amendments, was declared effective by the SEC on November 9, 2021 (the "Registration Statement").

On or about November 11, 2021, pursuant to the Offering Documents, Expensify conducted its IPO, selling 9.73 million shares priced at $27.00 per share.

On November 12, 2021, Expensify filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (the "Prospectus" and, together with the Registration Statement, the "Offering Documents").

According to the filed complaint, the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing their preparation. Specifically, the Offering Documents made false and/or misleading statements and/or failed to disclose that: (i) Expensify's revenue growth was highly susceptible to structural and macroeconomic headwinds; (ii) as a result, the Company overstated the efficacy of its business model and the likelihood it would meet the long-term growth projections touted in the Offering Documents; (iii) accordingly, the Company's post-IPO financial position and/or business prospects were overstated; and (iv) as a result, Defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On June 12, 2023, Morgan Stanley downgraded Expensify to Underweight from Equal-weight, citing structural headwinds and the Company's risk-reward profile.

On this news, Expensify's stock price fell $0.45 per share, or 6.28%, to close at $6.72 per share on June 12, 2023.

Then, on August 8, 2023, Expensify issued a press release announcing its second quarter 2023 financial and operating results. Among other items, Expensify reported GAAP EPS of -$0.14, missing consensus estimate of -$0.07, and revenue of $38.9 million, which likewise missed the consensus estimate of $41.5 million. Expensify also withdrew its previously issued revenue growth guidance. Following Expensify's disclosures, JMP Securities downgraded the Company to Market Perform from Market Outperform.

On this news, Expensify's stock price fell $1.69 per share, or 28.55%, to close at $4.23 per share on August 9, 2023.

Finally, after the market closed on November 7, 2023, Expensify issued a press release announcing third quarter 2023 financial and operating results that once again missed consensus estimates amid macroeconomic headwinds. Among other items, Expensify reported a Q3 GAAP loss of $0.21 per share and a 14.1% year-over-year revenue decline.

On this news, Expensify's stock price fell $1.07 per share, or 36.89%, to close at $1.83 per share on November 8, 2023.

As of the time this Complaint was filed, Expensify's securities continue to trade below the $27 per share Offering price, damaging investors.

For more information on the Expensify class action go to: https://bespc.com/cases/EXFY

National Instruments Corporation (NASDAQ: NATI)

Class Period: May 25, 2022 - January 17, 2023

Lead Plaintiff Deadline: January 29, 2024

National Instruments is a producer of automated test equipment and virtual instrumentation software.

The National Instruments class action lawsuit alleges that defendants throughout the Class Period made false statements and/or omitted to disclose material information that artificially deflated the price of National Instruments common stock.

The National Instruments class action lawsuit alleges that at the time that National Instruments was repurchasing National Instruments stock, defendants knew that National Instruments had received a formal acquisition offer from Emerson. Accordingly, National Instruments had an obligation to disclose that it had received a formal acquisition offer from Emerson or abstain from purchasing National Instruments stock from unsuspecting investors.

For more information on the National Instruments class action go to: https://bespc.com/cases/NATI

LivePerson, Inc. (NASDAQ: LPSN)

Class Period: May 10, 2022 - March 16, 2023

Lead Plaintiff Deadline: January 30, 2024

According to the filed complaint, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s disclosure controls and procedures contained a material weakness; (ii) accordingly, LivePerson maintained deficient internal controls over its financial reporting; (iii) as a result, LivePerson’s Q3 2022 financial statements failed to disclose the suspension of WildHealth’s Medicare reimbursements in connection with the Program and the resulting negative impact on the Company’s future revenues; (iv) accordingly, LivePerson had overstated the Company’s future financial position and/or prospects; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

For more information on the LivePerson class action go to: https://bespc.com/cases/LPSN

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.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com


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