Groupon, Inc. CLASS ACTION Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois against Groupon, Inc.
LEAD PLAINTIFF DEADLINE IS JUNE 29, 2020
NEW YORK, May 5, 2020 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed against Groupon, Inc. ("Groupon" or the "Company") (NASDAQ: GRPN) in the United States District Court for the Northern District of Illinois on behalf of those who purchased or acquired the securities of Groupon between November 4, 2019 and February 18, 2020, inclusive (the "Class Period").
All investors who purchased shares of Groupon, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of Groupon, Inc., you may, no later than June 29, 2020, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Groupon, Inc.
The filed Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose:
- the Company was experiencing fewer customer engagements in its Goods category;
- Groupon relied on its Goods category to drive its sales, especially during the holiday season;
- as a result of the foregoing, the Company was likely to experience reduced sales; and
- as a result of the foregoing, Defendants' positive statements about the Company' business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
On February 18, 2020, Groupon reported sales of $612.3 million, a 23% decline year-over-year. 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 also announced a "transformational plan to exit Goods" in North America by the third quarter and globally by the end of the year.
On this news, Groupon's share price fell more than 44%.
On March 25, 2020, Groupon abruptly announced that its Chief Executive Officer, Rich Williams, and Chief Operating Officer, Steve Krenzer, were "no longer serving" in their roles, but would continue as Groupon employees.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
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