WELLINGTON, Fla., May 06, 2020 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO”), reminds investors that they have until June 29, 2020 to contact the Firm to learn more about the class action filed against GROUPON, INC. (NASDAQGS: GRPN), and appointment of lead plaintiff.
The Class Action, LAZAR MACOVSKI v. GROUPON, INC., et al., Case No.: 1:20-cv-02581, was filed in the US District Court for the Northern District of Illinois on behalf of shareholders who purchased GROUPON securities between November 4, 2019 and February 18, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages against GROUPON and certain officers for alleged violations of federal securities laws.
The complaint alleges, in part, that throughout the Class Period, GROUPON made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. It is alleged that the Defendants failed to disclose that the Company was experiencing fewer customer engagements in its Goods category, which the Company relied on to drive its sales. On February 18, 2020, the Company reported a 23% decline on sales, year-over-year, and announced a “transformational plan to exit Goods” in North America by the third quarter. On this news, the Company’s share price fell over 44%, to close at $1.70 per share on February 19, 2020. Since that time, the stock has continued to decline, and traded as low as $1.06 per share on today’s date.
If you’ve suffered damages from investing in GROUPON and would like to discuss your options, including petitioning the court for a leadership position, you may, without obligation, contact Anthony Barbuto, at (888) 715-2520 or via email at anthony@barjolaw.com.
BARJO follows the principles set forth in the case Berger v. Compaq, 257 F.3d 475 (5th Cir, 2001) which states “[c]lass action lawsuits are intended to serve as a vehicle for capable, committed advocates to pursue the goals of the class members through counsel, not for capable, committed counsel to pursue their own goals through the class members.” BARJO believes strongly that the choice of qualified Lead Plaintiff(s) can have a significant impact on the successful outcome of a case.
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
1-888-715-2520
12773 Forest Hill Blvd., 101
Wellington, FL 33414
www.barjolaw.com