LivePerson responds to Starboard letter, says it’s executing its priorities and growth plan

LivePerson Inc. LPSN, +2.08% responded Friday to a letter from activist investor Starboard Value LP, saying it has “constructively engaged” in talks with Starboard Value and the fund’s Managing Member Peter Feld since Starboard disclosed its investment in February. “LivePerson remains committed to serving the best interests of all shareholders,” the mobile messaging company said in a statement. “The company is executing on its strategic priorities and profitable growth plan, as previously announced, and will update shareholders when it reports results for the first quarter of fiscal year 2022.” The statement comes after Starboard, which own’s 9.7% of LivePerson’s shares outstanding, disclosed Thursday a letter Weld wrote to LivePerson’s board, in which the fund urged the company to take advantage of opportunities to create “significant value” for shareholders. LivePerson’s stock, which was still inactive in premarket trading, has tumbled 56.0% over the past 12 months while the S&P 500 SPX, -0.27% has gained 9.8%.