LOS ANGELES, CA / ACCESSWIRE / February 20, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Groupon, Inc. ("Groupon" or "the Company") (NASDAQ:GRPN) for violations of the securities laws." type="text"> The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Groupon, Inc. ("Groupon" or "the Company") (NASDAQ:GRPN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Groupon reported its fourth quarter 2019 financial results on February 18, 2020. The Company 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. Based on this news, shares of Groupon fell by more than 40% during intraday trading on February 19, 2020.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm