Free consultation with a securities attorney offered to investors who purchased or otherwise acquired GRPN stock in connection with its initial offering on November 4, 2011, call (888) 252-0048.
Boston, MA (PRWEB) April 05, 2012
Gilman Law LLP, a leading national shareholder rights firm, announces that a class action lawsuit has been filed in the United States District Court in Illinois (Case No.: 12-2450) alleging possible violations of the federal securities laws by Groupon, Inc. (GRPN) regarding whether Groupon may have issued materially false and/or misleading information to investors, including in connection with its initial offering of shares to the public on November 4, 2011.
The class action lawsuit arises from the Company’s announcement that it is revising its reported financial results for the fourth quarter and year ended December 31, 2011. Groupon announced that the Company’s fourth quarter revenue was being reduced by $14.3 million, its fourth quarter operating income reduced by $30 million, its net income reduced by $22.6 million, and its earnings per share reduced by $0.04 per share and from a statement of “material weakness” regarding Groupon’s internal financial controls issued by the Company’s auditor, Ernst & Young LLP.
If you purchased Groupon, Inc. shares between the IPO date of November 4, 2011 and March 31, 2012 and would like to learn more about the class action lawsuit, you may email or call Gilman Law LLP, who will attempt to answer your questions at no cost or obligation to you. You may contact Gilman Law LLP by email at kgilman (at) gilmanpastor (dot) com, by calling (888) 252-0048, or by visiting the Groupon Lawsuit Website. The securities lawyers at Gilman Law LLP have over 30 years of experience litigating securities and other class action cases.