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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 29, 2020 to file lead plaintiff applications in a securities class action lawsuit against Groupon, Inc. (NasdaqGS: GRPN).
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.
If you purchased securities of Groupon and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Lazar Macovski, et al. v. Groupon, Inc., et al., 20-cv-02581.
Click here to read the first filed complaint.