NEW YORK, May 07, 2020 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Groupon, Inc. (“Groupon” or the “Company”) (NASDAQ: GRPN), a company that offers a marketplace that connects consumers to merchants through mobile applications and websites.  A complaint has been filed against the Company, Groupon’s former Chief Executive Officer and Groupon’s Chief Financial Officer on behalf of investors that purchased or acquired Groupon securities between November 4, 2019 and February 18, 2020, inclusive (the “Class Period”).

On February 18, 2020, Groupon announced its financial results for the quarter and year ended December 31, 2019, including Adjusted EBITDA of $227.2 million in 2019 that missed its prior outlook for expected Adjusted EBITDA of $270 million in 2019.  Additionally, Groupon announced its plan “to exit its Goods category to focus on the $1 trillion local experiences market opportunity.” 

Following this news, Groupon’s common stock fell sharply by $1.35 per share, or over 44%, to close at $1.70 per share on February 19, 2020 on heavy trading volume.

Then, on March 25, 2020, Groupon announced the abrupt departures of both its Chief Executive Officer and Chief Operating Officer.

The complaint alleges that throughout the Class Period, the Company failed to disclose (1) that the Company was experiencing fewer customer engagements in its Goods category, (2) that Groupon relied on its Goods category to drive its sales, especially during the holiday season, and (3) that as a result of the foregoing, the Company was likely to experience reduced sales.

If you purchased or acquired Groupon securities during the Class Period, you may move the court no later than June 29, 2020 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4700
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com