Charles H. Johnson & Associates Announces Filing of Securities Class Action Against Groupon, Inc.

MINNEAPOLIS, April 5, 2012 (GLOBE NEWSWIRE) -- Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the Northern District of Illinois on behalf of those who purchased Groupon, Inc. ("Groupon" or the "Company") (Nasdaq:GRPN) common stock pursuant and/or traceable to the Company's Registration Statement and Prospectus ("Registration Statement") issued in connection with its November 4, 2011 initial public offering ("IPO"), and/or purchased or acquired publicly traded securities during the period February 28, 2012 through March 30, 2012 (the "Class Period").

If you are a member of the proposed Class, you may move the Court to serve as a lead plaintiff for the Class on or before June 4, 2012. You do not need to be a lead plaintiff in order to share in any recovery that may be obtained. 

The Complaint alleges that Groupon made false and/or misleading statements, as well as failed to disclose material adverse facts about the adequacy of the Company's internal financial controls, and the Company's reported financial results for the fourth quarter of 2011 ("Q4 2011"). On March 30, 2012, Groupon disclosed that: 1) it had materially understated refund reserves for Q4 2011 due to a failure to properly account for coupon refunds; 2) as a result, it had materially misstated previously reported Q4 2011 and Full-Year 2011 revenue, operating income (loss), operating expense, net income (loss), earnings (loss) per share, and cost of revenue; and 3) internal controls over its financial statements had material weaknesses. As a result of the revelations, Groupon's stock declined. On April 2, 2012, the first trading day following Groupon's disclosures, the Company's stock closed on extraordinarily high volume of 10.09 million shares at $15.27 per share, a single-trading-day decline of $3.11 or 16.9% from its prior close. 

If you purchased or acquired Groupon, Inc. stock during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact: