April 28, 2021 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

September 22, 2020 - An amended complaint was filed.

April 28, 2020 - An investor in shares of Groupon, Inc. (NASDAQ: GRPN) filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by Groupon, Inc. in connection with certain allegedly false and misleading statements made between November 4, 2019 and February 18, 2020.

On February 18, 2020, Groupon, Inc. reported fourth quarter 2019 sales of $612.3 million, a nearly 23% decline over the prior year period. Groupon’s adjusted EBITDA for fiscal 2019 was reported at $227.2 million, a significant miss from its November 2019 forecast of $270 million. Groupon, Inc. also announced a transformational plan to exit Goods in North America by the third quarter and globally by the end of the year. Shares of Groupon, Inc. (NASDAQ: GRPN) declined from $5.87 per share in late 2017 to as low as $0.48 per share in March 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of Groupon, Inc. (NASDAQ: GRPN) common shares between November 4, 2019 and February 18, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 4, 2019 and February 18, 2020, the Defendants failed to disclose to investors that the Company was experiencing fewer customer engagements in its Goods category, that Groupon relied on its Goods category to drive its sales, especially during the holiday season, that, as a result of the foregoing, the Company was likely to experience reduced sales, and that 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.