NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until June 29, 2020 to file lead plaintiff applications in a securities class action lawsuit against Groupon, Inc. (NasdaqGS: GRPN), if they purchased the Company’s securities between November 4, 2019 and February 18, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of Illinois.
Groupon investors should visit us at https://www.claimsfiler.com/cases/view-groupon-inc-securities-litigation-3 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Groupon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 18, 2020, the Company disclosed disappointing financial results including a 23% decline in sales year-over-year, at $612.3 million, adjusted EBITDA for fiscal 2019 of $227.2 million, well below its November 2019 forecast of $270 million, and a “transformational plan to exit Goods” in North America by the third quarter and globally by year-end.
On this news, the price of Groupon’s shares plummeted $1.35/share, or over 44%, to close at $1.70/share on February 19, 2020, on unusually heavy trading volume.
The case is Lazar Macovski, et al. v. Groupon, Inc., et al., 20-cv-02581.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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