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SAN FRANCISCO--([ BUSINESS WIRE ])--The law firm of Girard Gibbs LLP ([ www.GirardGibbs.com ]) has filed a [ class action lawsuit against Groupon, Inc ]. (NASDAQ: GRPN) on behalf of investors who purchased Groupon common stock between November 4, 2011 and March 30, 2012. The lawsuit charges Groupon, and certain of its officers and directors, and the underwriters of Grouponas initial public offering with violations of federal securities laws for false and misleading statements related to Grouponas financial results and internal controls.

"It is crucial that investors in public companies are provided with the most accurate information available when they are making the decision to invest."

The lawsuit, captioned Einspahr v. Groupon, Inc. et al., is pending in the United States District Court for the Northern District of Illinois. The complaint alleges that defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing a series of misrepresentations and omissions related to Grouponas internal controls, financial results and business.

In November 2011, Groupon went public with an offering of 35 million shares priced at $20 per share, netting Groupon $658 million and its underwriters $42 million. In a press release and its first annual report filed with the Securities and Exchange Commission on March 30, 2012, Groupon announced that it was revising its fourth quarter 2011 financial results, resulting in a $14.3 million reduction to its fourth quarter revenues. Groupon also disclosed that its auditors found a material weakness in its internal controls, and that it could not assure the accuracy of its financial statements.

On April 2, 2012, the first trading day following Grouponas announcement, the companyas stock price dropped by nearly 17% to $15.27, well below its $20 IPO price and the class period high of $26.19.

aThe fact that Groupon had to revise its numbers so soon after its initial public offering raises significant questions about its financial reporting,a said attorney Jonathan Levine of Girard Gibbs. aIt is crucial that investors in public companies are provided with the most accurate information available when they are making the decision to invest.a

If you wish to discuss this action or have any questions concerning your rights as an investor in Groupon, please contact Girard Gibbs LLP ([ http://www.girardgibbs.com/case/97/groupon-lawsuit/ ]) or call toll-free at (866) 981-4800. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of his or her choice, or may choose to do nothing and remain an absent class member. If you would like to serve as lead plaintiff in this action, you must move the Court no later than June 4, 2012. A copy of the complaint is available from the Court, or can be viewed on Girard Gibbs LLPas website: [ www.GirardGibbs.com ].

Girard Gibbs is a national litigation firm representing consumers, investors, employees, and small businesses in cases involving securities litigation, consumer protection, personal injury, antitrust, and employment laws. The firmas senior partners, Daniel Girard and Eric Gibbs, have been selected for inclusion in The Best Lawyers in America 2012 and Northern California Super Lawyers, and have earned AV-Preeminent ratings from Martindale-Hubbell, recognizing them in the highest class of attorneys for professional ethics and legal skills.