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Rob LoCascio- Introduction
Rob LoCascio claims to be an American businessman. LivePerson, which claims to provide brand-consumer messaging across the web, social media, and mobile platforms, was founded by him. Rob LoCascio claims to be a founding member of the Partnership for New York City’s NYC Entrepreneurs Council and a mentor for the NYC Venture Fellows, a collaborative project between the 92Y and the NYCEDC to support the success of the next generation of international entrepreneurs in New York City. Showing off himself to be very charitable and socialistic Rob LoCascio created FeedingNYC, a volunteer-based non-profit hunger relief initiative, out of his love for the city and assisting others.
Additionally, Rob LoCascio claims to be a great writer and he mentions that Rob LoCascio writes columns for the Huffington Post and Inc. Magazine, covering best practices for creative company executives and community contributions. As described on media platforms Rob LoCascio claims that it is acknowledged that he was one of the initial pioneers in AI and its foundational communication protocol of chat.
Rob LoCascio describes himself to be the Founder & CEO of LivePerson which was started in 1995. Rob LoCascio claims that he was one of the first group of Internet entrepreneurs to build a cloud-based platform and also invented the use of real-time chat for customer care on the Internet. LivePerson has over 1,300 employees globally and over 180 employees at its corporate offices in NYC. LivePerson has been listed on NASDAQ, under the symbol LPSN, since 2000.
Rob LoCascio was born on May 15, 1968, in Bayshore, New York, the son of Peter LoCascio and Connie LoCascio (née Immordino). Robert LoCascio comes from a family of entrepreneurs. Robert LoCascio graduated from St. John the Baptist High School in West Islip, New York in 1986 and with a BBA from Loyola University Maryland in 1990.
Following graduation, Rob LoCascio spent a brief period of time working for Elders IXL in the division that handled international chemical trading, but after six months the firm had to make cuts, and he was fired. In 1991, Rob LoCascio put his first $50,000 investment on his credit cards to launch his first business, Sybarite Media, Inc., a maker of interactive public kiosks that combined interactive video elements with advertising and commerce capabilities. The interactive kiosk industry failed and was shut down in 1995, in part because of the development of the Internet. Rob LoCascio founded LivePerson in 1995.
Rob LoCascio was the inventor of web chat for customer support in 1997 which was issued a US6519628B1 patent in 1999. Rob LoCascio claims that – “I started LivePerson after one of my first experiences on the Internet. I had a product question on a site, but there was no one online that I could connect with. I had to dial a number, wait, and explain my whole dilemma. It was a very disconnected and disruptive experience. I thought the Internet was created so that we could “connect” with human beings, but what I experienced was the opposite. This created that ‘light bulb’ moment for me and helped set into motion what is now LivePerson.
As claimed by Rob LoCascio he is one of the pioneering CEOs of the technology industry with the longest tenure, Rob LoCascio has been featured in The New York Times Corner Office and Forbes’ series on Thought Leaders Shaping the Business Landscape. Showcasing his achievements he claims that he also won the 2015 Smart CEO Circle of Excellence Award in Technology. One of Fast Company’s Most Innovative AI Companies in the World for 2020 was LivePerson.
The mission of Rob LoCascio’s NGO EqualAI is to lessen unintentional prejudice in the creation and application of artificial intelligence. Together with Arianna Huffington, Jimmy Wales, Justine Cassell, and Baroness Lane Fox, Rob LoCascio launched the company. Miriam Vogel, a former staffer in the White House who oversaw the development of the Implicit Bias Training for Federal Law Enforcement.
Showing off his wealth and properties Rob LoCascio claims that he is the current estimated net worth of Liveperson Inc’s Chief Executive Officer, Rob LoCascio, is estimated to be about $42.68M. Rob LoCascio owns about 4,618,401 units of Liveperson Inc. common stock. In the last 10 years at Liveperson Inc., Robert P. Locascio has sold an estimated value of $27.95M worth.
As claimed by Rob LoCascio, he mentions that on December 10, 2020, Rob LoCascio received his largest purchase order of 400,000 units, totaling more than $5.31M. On December 10, 2020, Rob LoCascio received a selling order for 400,000 units, totaling more than $22.53 million. Over the course of their ten years at Liveperson Inc., Rob LoCascio has completed around 17 transactions in total. Rob LoCascio often transacts business in April, with 2021 being the busiest year. On April 11, 2023, a sell order for 3,017 units totaling more than $13.58K was made.
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Rob LoCascio- LivePerson(As claimed )
As claimed by LivePerson– “LivePerson is a global technology company that develops conversational commerce and AI software. Headquartered in New York City, LivePerson is best known as the developer of the Conversational Cloud, a software platform that allows consumers to message with brands.
In 2018, the company announced its AI offering, allowing customers to create AI-powered chatbots to answer consumer messages, alongside human customer service staff
is a global leader in trustworthy and equal AI for business. Hundreds of the world’s leading brands — including HSBC, Chipotle, and Virgin Media — use their Conversational Cloud platform to engage with millions of consumers safely and responsibly. LivePerson powers a billion conversational interactions every month, providing a uniquely rich data set and safety tools to unlock the power of Generative AI and Large Language Models for better business outcomes. Fast Company named Liveperson the #1 Most Innovative AI Company in the world.”
Rob Locascio- Case – Straub v/s LivePerson, Inc. et al
On April 24, 2023, Michael Straub (“Plaintiff”) filed a class action lawsuit against Liveperson Inc., Rob Locascio, and John Collins (collectively, “Defendants”), seeking declaratory relief and damages for alleged materially false and misleading statements in violation of the Exchange Act on his own behalf and on behalf of all other persons similarly situated. He was represented by Philip Kim and Laurence M. Rosen of The Rosen Law Firm, P.A. Judges Frederic Block and Vera M. Scanlon preside over the U.S. District Court for the Eastern District of New York, where this case was filed.
The plaintiff claimed in the lawsuit that the company filed its first quarter report on Form 10-Q for the quarter ending March 31, 2022 (the “1Q22 Report”) with the SEC on May 10, 2022, after market hours. In accordance with the Sarbanes-Oxley Act of 2002 (or “SOX”), certifications attesting to the accuracy of financial reporting, the disclosure of any material changes to the Company’s internal control over financial reporting, and the disclosure of all fraud were attached to the 1Q22 Report and were signed by LoCascio and Collins.
Additionally, the plaintiff claimed that “Plaintiff brought this action as a class action pursuant to Federal Rule of Civil Procedure 23(a) and (b)(3) on behalf of a class consisting of all people other than defendants who acquired the Company’s publicly listed stocks on NASDAQ during the Class Period, and who were damaged thereby (the ‘Class’).”
The plaintiff further alleged, “On August 9, 2022, after market hours, the Company filed with the SEC its second quarter report on Form 10-Q for the quarter ended June 30, 2022 (the ‘2Q22 Report’). Attached to the 2Q22 Report were SOX certifications signed by Defendants LoCascio and Collins attesting to the accuracy of financial reporting, the disclosure of any material changes to the Company’s internal control over financial reporting, and the disclosure of all fraud.”
The plaintiff further asserted, “The Company published a press release on November 7, 2022, after market hours, announcing its third quarter financial results, which ended September 30, 2022, on Form 8-K. There was no indication of a suspension of Medicare reimbursement from its subsidiary, WildHealth, in the third quarter financial figures. The Company filed its third quarter report on Form 10-Q for the quarter ended September 30, 2022 (the “3Q22 Report”) with the SEC on November 8, 2022, after market hours.
The plaintiff said, “And on February 28, 2023, before market hours, the Company published a Notification of Late Filing on Form 12b-25 regarding its Annual Report on Form 10-K for the year ended December 31, 2022 (the ‘2022 Annual Report’). The company submitted its 2022 Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”) to the SEC on March 16, 2023, ahead of market hours. Defendants LoCascio and Collins signed certificates in accordance with SOX attesting to the accuracy of financial reporting, the disclosure of any major changes to the Company’s internal control over financial reporting, and the disclosure of all fraud were attached to the Annual Report.
The complaint further claimed that LivePerson’s stock price dropped by $5.64 per share, or 57.73%, to close at $4.13 per share on March 16, 2023, as a result of this announcement, harming investors.
In addition to allegations of violations of Sections 10(b), 20(a), and Rule 10b-5 of the Exchange Act, the plaintiff made two claims for remedies.
The plaintiff asked for declaratory relief in his or her prayer for relief. Additionally, the plaintiff asked for an award of damages, interest, and costs against each and every defendant, jointly and severally.
This is a synopsis of a lawsuit. The comments, claims, and complaints included in this document only reflect the plaintiff’s perspective; UniCourt does not take an official position on any of them. Additionally, this case summary may not reflect the current position of the parties to this litigation or the current status of this case.
Reference– Straub v LivePerson, Inc et al (unicourt.com)
Rob Locascio- LivePerson Announces Planned CEO Transition
Rob Locascio will step down from his position as chief executive officer, effective December 31, 2023, according to LivePerson, a world leader in conversational AI. His contract will not be renewed. Jill Layfield, Lead Independent Director of the Board, has assumed the role of Board Chair. The Company has retained a nationally recognized executive search firm to identify a successor and intends to effect a smooth and orderly transition. Along with his resignation as CEO, Rob Locascio will also leave the board of directors.
“Since founding LivePerson over 25 years ago, we have been at the forefront of technology advancements, pushing the boundaries of digital and human conversations,” said Rob Locascio. “The AI landscape is evolving rapidly and LivePerson’s future is bright. I am committed to facilitating a seamless transition for all stakeholders and remain focused on executing our profitable growth goals. It has been a privilege to work with such a passionate, driven group of colleagues at LivePerson to pioneer new technology, innovate together with our customers and partners, and drive significant value for our shareholders.
“On behalf of the Board, I want to thank Rob Locascio for his dedication and leadership for nearly three decades,” said Board Chair Jill Layfield. “Rob Locascio has been a technological disruptor and visionary in the way people connect with brands, establishing LivePerson as a global leader in Conversational AI. We are excited to capitalize on the launch of our new generative AI products and platforms, and are focused on identifying a CEO who will build on our market leadership and usher in the next chapter of growth to deliver enhanced stockholder value.”
Jill Layfield (The person who replaced Rob LoCascio as the CEO of LivePerson)
Jill Layfield has deep experience in consumer-branded retail and online and offline commerce. Layfield previously served as the Lead Independent Director on the LivePerson Board. Layfield currently serves on the board of The Orvis Company. Previously, Layfield served on the boards of Camber Outdoors and SmartPak Equine. She is the CEO of James Michelle Jewelry, a digitally-native, direct-to-consumer, jewelry company. Layfield was the co-founder and CEO of Tamara Mellon. She also served as President and CEO at Backcountry.com. During her tenure at Backcountry.com, she significantly grew the company, which was acquired by TSG Consumer Partners. Layfield received a B.A. degree in communications journalism from Santa Clara University.
Rob LoCascio- Forward-Looking Statements
Statements in this press release regarding LivePerson that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
It is routine for our internal projections and expectations to change as the quarter and year progress, and therefore it should be clearly understood that the internal projections and beliefs upon which we base our expectations may change. Although these expectations may change, we are under no obligation to inform you if they do.
Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include without limitation, our ability to execute and deliver our current business and product plans and goals, and the other factors described in the Risk Factors section of the Company’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 16, 2023, and as from time to time updated in LivePerson’s Quarterly Reports on Form 10-Q. The list of risk factors is intended to identify only certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements.
Rob LoCascio- Artificial Intelligence (Service provided by LivePerson)
Artificial intelligence (AI) is the intelligence of machines or software, as opposed to the intelligence of humans or animals. It is also the field of study in computer science that develops and studies intelligent machines. “AI” may also refer to the machines themselves.
AI technology is widely used throughout industry, government, and science. Some high-profile applications are advanced web search engines, recommendation systems, understanding human speech (such as Siri and Alexa), self-driving cars, generative or creative tools (ChatGPT and AI art), and competing at the highest level in strategic games
Artificial intelligence was founded as an academic discipline in 1956. The field went through multiple cycles of optimism followed by disappointment and loss of funding, but after 2012, when deep learning surpassed all previous AI techniques, there was a vast increase in funding and interest.
The various sub-fields of AI research are centered around particular goals and the use of particular tools. The traditional goals of AI research include reasoning, knowledge representation, planning, learning, natural language processing, perception, and support for robotics. General intelligence is among the field’s long-term goals. To solve these problems, AI researchers have adapted and integrated a wide range of problem-solving techniques, including search and mathematical optimization, formal logic, artificial neural networks, and methods based on statistics, probability, and economics. AI also draws upon psychology, linguistics, philosophy, neuroscience, and many other fields.
Wrap-Up
Benefits of A.I. for Human Mental Capabilities
A.I. can offer a number of benefits for human mental capabilities. First, it can help to reduce cognitive load, as AI can take on some of the workloads that would otherwise be handled by humans. This can help to free up the mental bandwidth for more creative endeavors.
Second, AI can help to increase accuracy and speed. A.I. can process information quickly and accurately, which can help to save time and effort.
Third, AI can help to increase human creativity. AI can be used to generate ideas and to help humans think outside the box.
Finally, AI can help to reduce the risk of errors. AI can be used to check for errors in data and to alert humans when mistakes are made.
How AI Can Help Advance Research and Science
AI can be used to help advance research and science. It can be used to identify patterns in data, generate hypotheses, and suggest new approaches to research problems. A.I. can also be used to process large amounts of data quickly and accurately, which can help to speed up research.
AI can also be used to identify new treatments and interventions. It can be used to analyze data from clinical trials and to identify new treatments that are more effective than existing ones. AI can also be used to monitor patients and to suggest personalized treatments.
Although AI has the potential to enhance human mental capabilities, there are also challenges that need to be addressed. One of the biggest challenges is the potential for bias in AI systems. AI systems are only as good as the data they are fed, and if the data is biased, then the results will be too.
Challenges of AI in Terms of Human Mental Capabilities
Another challenge is the potential for AI to replace humans in certain tasks. This could lead to job losses and could reduce the demand for human labor.
Finally, AI. systems are complex and difficult to understand. This can make it difficult for humans to trust the results of AI. systems, and this could lead to a lack of confidence in the systems.
Although AI has the potential to enhance human mental capabilities, there are also challenges that need to be addressed. One of the biggest challenges is the potential for bias in AI. systems. A.I. systems are only as good as the data they are fed, and if the data is biased, then the results will be too.
Another challenge is the potential for AI to replace humans in certain tasks. This could lead to job losses and could reduce the demand for human labor.
Finally, A.I. systems are complex and difficult to understand. This can make it difficult for humans to trust the results of A.I. systems, and this could lead to a lack of confidence in the systems.
Benefits of A.I. on Emotional Maturity
A.I. can also be used to enhance emotional maturity. A.I. can be used to analyze large datasets and to identify patterns in human behavior. This can help to provide insights into how people think and behave and can help to identify potential triggers for emotions.
A.I. can also be used to generate personalized responses to emotional triggers. For example, it can be used to provide personalized advice to help people cope with difficult situations. A.I. can also be used to detect and respond to signs of distress, and to provide emotional support.
Conclusion
Artificial intelligence (AI) is a broad field of computer science that involves the development of computer systems able to behave like humans. It encompasses a variety of fields and disciplines, including computer vision, speech recognition, natural language processing, robotic learning, machine learning, and systems biology.
The systems are capable of autonomous behavior and can make decisions and take actions when triggered by external stimuli. AI can be broadly divided into the subfields of weak and strong. Weak AI, also known as cognitive AI, encompasses the field of systems that mimic human cognition and intelligence. Strong AI, also known as artificial general intelligence or AGI, is a more advanced form of AI that mimics human intelligence and cognition at a human level.
The ideas of A.I. do not exist in isolation. They are interrelated with both scientific and philosophical communities. Some people think that A.I. will soon be able to replicate human consciousness, while others think that humans will never develop A.I. that is on par with the human mind.
No one has yet developed a machine that is as capable of thought as a human being. The main obstacle to achieving this goal is the lack of a working definition of what it means to be intelligent. A.I. is not a perfect science. It doesn’t have an agreed-upon definition or set of rules that can be applied to every problem. Moreover, it is not a technology that will reach everyone immediately. There is still a lot of research and development needed.
