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GRPN.US
id: 307, Created by Stan Vick Chase, Scout
Groupon Inc
Settled
30 July 2019
Class period Start18 February 2020
Class period End01 December 2022
Claim deadlineFadi E. Rahal, et al. v. Groupon, Inc., et al.
Groupon agreed to pay $13,5 million to settle with Investors.
The original complaint alleged that during the period from 07/30/2019 to 02/18/2020 Groupon and its Leaders failed to disclose to investors:
- that the Company was experiencing fewer customer engagements in its Goods category;
- that Groupon relied on its Goods category to drive its sales, especially during the holiday season;
- the Company was likely to experience reduced sales;
As a result of Groupon making positive statements about the Company’s operations and prospects was artificially inflating the stock price.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Lead plaintiff
Fadi E. Rahal
Attorney
Glancy Prongay & Murray LLP (Los Angeles) Kirby McInerney LLP (New York) Pomerantz Haudek Block Grossman & Gross LLP (Chicago)
Court
Northern District of Illinois
Judge
Hon. Matthew F. Kennelly
Administrator
EPIQ
Court hearing date
13 October 2022
+$13,500,000
Total Settlement Amount