NEW YORK, April 30, 2020 /PRNewswire/ -- Bernstein
Liebhard, a nationally acclaimed investor rights law firm,
announces that a securities class action has been filed on behalf
of investors that purchased or acquired the securities of Groupon,
Inc. ("Groupon" or the "Company") (NASDAQ: GRPN) between
November 4, 2019 and February 18, 2020 (the "Class Period"). The
lawsuit filed in the United States
District Court for the Northern District of Illinois alleges violations of the Securities
Exchange Act of 1934.
If you purchased Groupon securities, and/or would like to
discuss your legal rights and options please visit GRPN
Shareholder Class Action or contact Matthew
E. Guarnero toll free at (877) 779-1414 or
MGuarnero@bernlieb.com.
The Complaint alleges that throughout the Class Period,
Defendants made materially false and misleading statements
regarding the Company's business, operations and prospects.
Specifically, Defendants made false and/or misleading statements
and/or failed to disclose: (1) that the Company was experiencing
fewer customer engagements in its Goods category; (2) that Groupon
relied on its Goods category to drive its sales, especially during
the holiday season; (3) that, as a result of the foregoing, the
Company was likely to experience reduced sales; and (4) 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.
On February 18, 2020, Groupon
reported fourth quarter 2019 sales of $612.3
million, a nearly 23% decline over the prior year period.
The Company'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, the Company's share price fell $1.35, or over 44%, to close at $1.70 per share on February 19, 2020, on unusually heavy trading
volume.
If you wish to serve as lead plaintiff, you must move the Court
no later than June 29, 2020. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
If you purchased GRPN securities, and/or would like to
discuss your legal rights and options please visit
https://www.bernlieb.com/cases/grouponinc-grpn-shareholder-class-action-lawsuit-stock-fraud-272/apply
or contact Matthew E. Guarnero toll
free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National
Law Journal's "Plaintiffs' Hot List" thirteen times and
listed in The Legal 500 for ten consecutive
years.
ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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SOURCE Bernstein Liebhard LLP