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Lawsuit filed for Investors in shares of Groupon, Inc. (NASDAQ: GRPN)

05-04-2020 09:37 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Groupon, Inc. (NASDAQ: GRPN) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Groupon, Inc. (NASDAQ: GRPN) shares over alleged securities laws violations.

An investor, who purchased shares of Groupon, Inc. (NASDAQ: GRPN), filed a lawsuit over alleged violations of Federal Securities Laws by Groupon, Inc.

Investors in shares of Groupon, Inc. (NASDAQ: GRPN) have certain options and for certain investors are short and strict deadlines running. Deadline: June 29, 2020. NASDAQ: GRPN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On February 18, 2020, Groupon, Inc. reported fourth quarter 2019 sales of $612.3 million, a nearly 23% decline over the prior year period. Groupon's adjusted EBITDA for fiscal 2019 was reported at $227.2 million, a significant miss from its November 2019 forecast of $270 million. Groupon, Inc. also announced a "transformational plan to exit Goods" in North America by the third quarter and globally by the end of the year.

Shares of Groupon, Inc. (NASDAQ: GRPN) declined from $5.87 per share in late 2017 to as low as $0.48 per share in March 2020.

The plaintiff claims that between November 4, 2019 and February 18, 2020, the Defendants failed to disclose to investors that the Company was experiencing fewer customer engagements in its Goods category, that Groupon relied on its Goods category to drive its sales, especially during the holiday season, that, as a result of the foregoing, the Company was likely to experience reduced sales, and that that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Groupon, Inc. (NASDAQ: GRPN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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