Press release from Business Wire
Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Groupon, Inc.
Friday, May 25, 2012
Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Groupon, Inc.21:30 EDT Friday, May 25, 2012 LOS ANGELES (Business Wire) -- Glancy Binkow & Goldberg LLP announces that all persons or entities who purchased or otherwise acquired the common stock of Groupon, Inc. (“Groupon” or the “Company”) (NASDAQ: GRPN), pursuant and/or traceable to the Company's November 4, 2011 initial public offering, have until June 4, 2012 to file a motion with the Court to be appointed as Lead Plaintiff. The class action lawsuit was filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of Groupon common stock pursuant and/or traceable to the allegedly false and misleading Registration Statement and Prospectus issued in connection with Groupon's initial public offering, including purchasers of Groupon common stock between February 8, 2012 and March 30, 2012 (the “Class Period”). Groupon operates an e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount in North America and internationally. The Complaint alleges that defendants misrepresented or failed to disclose that: (a) the Company materially understated refund reserves for fourth quarter 2011 due to a failure to properly account for coupon refunds; (b) as a result, the Company materially misstated its previously reported fourth-quarter and full-year 2011 financial results; and (c), the Company lacked adequate internal and financial controls. If you are a member of the class described above, you may move the Court, no later than June 4, 2012, to serve as Lead Plaintiff; however, you must meet certain legal requirements. To be a member of the class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael Goldberg(310) 201-9150 or (888) email@example.com