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Groupon Inc (NASDAQ: GRPN) Investor Securities Class Action Lawsuit 12/21/2012

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Lawsuit Overview

Case Dismissed
Company
Groupon Inc
Security
NASDAQ: GRPN

Case Name
Groupon Shareholder Class Action Lawsuit 12/21/2012
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of Illinois

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

July 1, 2013 - A notice of voluntary dismissal was filed.

December 21, 2012 - An investor in shares of Groupon Inc (NASDAQ: GRPN) filed a lawsuit in the U.S. District Court for the Northern District of Illinois against Groupon Inc over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges on behalf of purchasers of Groupon Inc (NASDAQ: GRPN) common stock during the period between May 14, 2012 and November 8, 2012, that Groupon Inc and certain of its officers and directors violated the the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding the Company’s business and prospects. Groupon Inc reported that its annual Revenue rose from $312.94 million in 2010 to over $1.61 billion in 2011 and its Net Loss declined from $389.64 million to $279.49 million in 2011.

On Nov. 8, 2012, Groupon Inc (NASDAQ: GRPN) reported its third quarter 2012 results. Among other things, Groupon Inc reported that its third quarter Revenue rose from $430.16 million in 2011 to $568.55 million in 2012 and its third quarter Net Loss declined from $10.57 million in 2011 to $1.65 million in 2012.

Shares of Groupon Inc (NASDAQ: GRPN) declined from as high as $13.05 per share in May 2012 to as low as $2.63 per share on Nov. 13, 2012.

On December 21, 2012 Groupon Inc (NASDAQ: GRPN) shares closed at $4.55 per share.