NEW YORK, May 22, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors Groupon, Inc. (Groupon or the Company) (NASDAQ: GRPN).
NEW YORK, May 22, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors Groupon, Inc. (“Groupon” or the “Company”) (NASDAQ: GRPN). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Groupon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 18, 2020, Groupon reported sales of $612.3 million, a 23% decline year-over-year. The Company’s adjusted EBITDA for fiscal 2019 was reported at $227.2 million, a significant miss from its November 2019 forecast of $270 million. Groupon also announced a “transformational plan to exit Goods” in North America by the third quarter and globally by the end of the year. On this news, Groupon’s stock price fell $1.35 per share, or over 44%, to close at $1.70 per share on February 19, 2020. Then, on March 25, 2020, Groupon abruptly announced that its Chief Executive Officer, Rich Williams, and Chief Operating Officer, Steve Krenzer, were “no longer serving” in their roles, but would continue as employees of the Company.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlawfirm.com.
Robert S. Willoughby
888-476-6529 ext. 7980