Glancy Binkow & Goldberg LLP Announces Class Action
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.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Groupon common stock pursuant or traceable to the Company’s November 4, 2011 initial public offering, and/or during the Class Period described above, you have certain rights, and have until June 4, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.
www.glancylaw.com