NEW YORK, May 01, 2020 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Groupon, Inc. (“Groupon” or the “Company”) (NASDAQ: GRPN) in the United States District Court for the Northern District of Illinois on behalf of those who purchased or acquired the securities of Groupon between November 4, 2019 and February 18, 2020, inclusive (the “Class Period”).  The lawsuit seeks to recover damages for Groupon investors under the federal securities laws.

The Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose: (1) the Company was experiencing fewer customer engagements in its Goods category; (2) Groupon relied on its Goods category to drive its sales, especially during the holiday season; (3) as a result of the foregoing, the Company was likely to experience reduced sales; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Groupon during the Class Period should contact the Firm prior to the June 29, 2020 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.

Source: https://www.globenewswire.com/news-release/2020/05/01/2026355/0/en/Gainey-McKenna-Egleston-Announces-A-Class-Action-Lawsuit-Has-Been-Filed-Against-Groupon-Inc-GRPN.html