Science & Technology
Tue, April 3, 2012
STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible violations of the federal securities laws by Groupon, Inc.(NASDAQ: [ GRPN ]) regarding whether Groupon may have issued materially false and/or misleading. information to investors, including in connection with its initial offering of shares to the public on November 4, 2011.
The investigation arises from the Companyas announcement that it is revising its reported financial results for the fourth quarter and year ended December 31, 2011. Groupon announced that the Companyas fourth quarter revenue was being reduced by $14.3 million, its fourth quarter operating income reduced by $30 million, its net income reduced by $22.6 million, and its earnings per share reduced by $0.04 per share and from a statement of amaterial weaknessa regarding Grouponas internal financial controls issued by the Companyas auditor, Ernst & Young LLP.
If you purchased Groupon, Inc. shares between the IPO date of November 4, 2011 and March 31, 2012 and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without cost or obligation to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.