|Class Period:||May-24-12 to Nov-8-12|
|Lead Plaintiff Deadline:||Mar-24-13|
|Court:||Northern District of Illinois|
The lawsuit alleges Groupon and certain of its officers and directors violated the Securities Exchange Act of 1934. The complaint claims Groupon issued materially false and misleading statements which led to an inflated stock price during the Class Period.
On November 8, 2012, Groupon issued a press release disclosing its third quarter 2012 earnings results, announcing disappointing revenue results for the third quarter and lowered revenue guidance for the fourth quarter of 2012. In a conference call, management recognized that the company's lower margin Groupon Goods business would be a more important part of its revenues. As a result of this news, Groupon stock fell $1.16 per share to close at $2.76 per share on November 9, 2012, a one-day drop of 29.59%.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.