Groupon Investors Have Until June 4, 2012 to Seek a Lead Plaintiff Position
San Francisco, CA – The law firm of Gibbs Law Group LLP (www.GirardGibbs.com) filed a class action lawsuit against Groupon, Inc. (NASDAQ: GRPN) on behalf of investors who purchased Groupon common stock between November 4, 2011 and March 30, 2012. The deadline for Groupon shareholders to seek a lead plaintiff position in the lawsuit is June 4, 2012. Groupon investors who would like to learn more about their legal rights can contact Gibbs Law Group at (866) 981-4800 or visit our website: Gibbs Law Group Groupon Lawsuit Investigation.
The lawsuit charges Groupon, and certain of its officers and directors, and the underwriters of Groupon’s initial public offering with violations of federal securities laws for false and misleading statements related to Groupon’s financial results and internal controls. On March 30, 2012, Groupon disclosed in an SEC filing that it was revising its fourth quarter 2011 financial results, resulting in a $14.3 million reduction to its fourth quarter revenues. Groupon also disclosed that its auditors found a material weakness in its internal controls, and that it could not assure the accuracy of its financial statements. On April 2, 2012, the first trading day following Groupon’s announcement, the company’s stock price dropped by nearly 17% to $15.27, well below its $20 IPO price and the class period high of $26.19.
If you wish to discuss your legal rights as an investor in Groupon, please contact Gibbs Law Group LLP (/groupon-lawsuit/) or call toll-free at (866) 981-4800. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of his or her choice, or may choose to do nothing and remain an absent class member. If you would like to serve as lead plaintiff in this action, you must move the Court no later than June 4, 2012. A copy of the complaint is available from the Court, or can be viewed on Gibbs Law Group LLP’s website: www.GirardGibbs.com.
Gibbs Law Group is a national litigation firm representing investors, employees, consumers and small businesses in cases involving securities litigation, consumer protection, personal injury, antitrust, and employment laws. The firm’s senior partners, Daniel Girard and Eric Gibbs, have been selected for inclusion in The Best Lawyers in America® 2012 and Northern California Super Lawyers, and have earned AV-Preeminent ratings from Martindale-Hubbell, recognizing them in the highest class of attorneys for professional ethics and legal skills.
JONATHAN K. LEVINE