GROUPON 24 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors with Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against Groupon, Inc. - GRPN
NEW ORLEANS, June 28, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until June 29, 2020 to file lead plaintiff applications in a securities class action lawsuit against Groupon, Inc. (NasdaqGS: GRPN), if they purchased the Company's securities between November 4, 2019 and February 18, 2020, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of Illinois.
What You May Do
If you purchased securities of Groupon and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-grpn/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by June 29, 2020.
About the Lawsuit
Groupon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 18, 2020, the Company disclosed disappointing financial results including a 23% decline in sales year-over-year, at $612.3 million, adjusted EBITDA for fiscal 2019 of $227.2 million, well below its November 2019 forecast of $270 million, and a "transformational plan to exit Goods" in North America by the third quarter and globally by year-end.
On this news, the price of Groupon's shares plummeted $1.35/share, or over 44%, to close at $1.70/share on February 19, 2020, on unusually heavy trading volume.
The case is Lazar Macovski, et al. v. Groupon, Inc., et al., 20-cv-02581.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.