GRPN - Groupon Inc - Page 6

40 Days Remain Before Deadline in Securities Case against Groupon
4 days 22 hours 25 minutes ago - PR Newswire via Comtex
Hagens Berman Sobol Shapiro, an investor-rights law firm, today reminded investors of the June 4, 2012, lead plaintiff deadline in a securities class action filed against Groupon (NASDAQ GS: GRPN) on behalf of investors.

Investors who purchased or otherwise acquired shares of Groupon common stock between November 4, 2011, and March 30, 2012 (the "Class Period"), and who have suffered substantial financial losses are encouraged to contact Hagens Berman Partner Reed Kathrein by calling (510) 725-3000. Investors may also contact the firm via email at GRPN@hbsslaw.com or by visiting www.hbsslaw.com/GRPN.

Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The deadline to move the court for lead plaintiff is June 4, 2012.

Hagens Berman's complaint, filed April 16, 2012, in the United States District Court for the Northern District of Illinois, alleges that Groupon, certain of its officers, directors and underwriters of Groupon's Initial Public Offering (IPO) violated the federal securities laws by issuing false and misleading statements to investors.

Hagens Berman's lawsuit alleges that Groupon and its underwriters failed to disclose negative trends in the company's business and weakness in its internal financial controls, causing its stock to trade at artificially high prices during the Class Period.

Groupon went public in November 2011. The company initially priced its stock at $20.00 per share, but the stock price rose as high as $27.78 during the Class Period.

On March 30, 2012, Groupon shocked the market with an announcement that it would revise its fourth quarter, 2011 financial results. The revision, the company said, would include a reduction in revenue and an increase in operating expenses. Groupon also noted, "In conjunction with the completion of the audit of Groupon's financial statements for the year ended December 31, 2011 by its independent auditor, Ernst & Young LLP, the Company included a statement of a material weakness in its internal controls over its financial statement close process in its Annual Report on Form 10-K for year ended December 31, 2011."

Following the announcement, Groupon's stock declined sharply, losing nearly 17 percent of its value on April 2, 2012, closing at $15.27. The stock has continued to decline, and on April 24, 2012, closed at $12.01.

Pomerantz Law Firm Reminds Shareholders of Groupon, Inc. of Upcoming Deadline -- GRPN
3 days 5 hours 11 minutes ago - GlobeNewswire via Comtex
Shareholders of Groupon, Inc. ("Groupon" or the "Company") (Nasdaq:GRPN) are reminded of the securities class action filed against Groupon and certain of its officers. The federal securities class action (1:12-cv-02460) was filed in the United States District Court, Northern District of Illinois, on behalf of all persons who purchased or otherwise acquired Groupon, Inc. common stock pursuant and/or traceable to the Company's Registration Statement and Prospectus (collectively, the "Registration Statement"), as amended, issued in connection with its November 4, 2011 initial public offering (the "IPO"), and/or purchased or otherwise acquired Groupon common stock during the period from February 8, 2012 through and including March 30, 2012. This class action is brought under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.

If you are a shareholder who purchased Groupon securities pursuant to the November 4, 2011 IPO and/or during the Class Period, you have until June 4, 2012 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at rrboyle@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.

The Complaint alleges that throughout the Class Period, 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.

On Friday, March 30, 2012, Groupon disclosed that: (a) it had materially understated refund reserves for fourth quarter 2011 ("Q4 2011") due to a failure to properly account for coupon refunds; (b) 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 (c) internal controls over its financial statements had material weaknesses.

As a result of the revelations, Groupon's stock declined. On Monday, 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 -- a single-trading-day decline of $3.11 or 16.9% from its prior close.

Groupon Names American Express, Deloitte Executives To Board
49 minutes ago - Dow Jones News

DOW JONES NEWSWIRES

Groupon Inc. (GRPN) said it named two new directors, bringing in two men with extensive financial backgrounds to aid the newly public daily coupon site.
Groupon offers subscribers an array of discounts by arranging deals with merchants looking to attract new business. The service, which went public in November, has grown since 2008 from a small Chicago-based website to a 10,000-person organization that generates more revenue overseas than it does in North America.
The company said Daniel Henry, the chief financial officer of American Express Co. (AXP) since October 2007, was appointed last Thursday. Henry, 62 years old, replaced Starbucks Corp. (SBUX) Chief Executive Howard Schultz, who stepped down.
Robert Bass, the vice chairman of Deloitte LLP since 2006, will stand for election at Groupon's annual meeting on June 19. Bass, also 62 years old, is replacing Kevin Efrusy, who won't stand for reelection. Bass, a partner in Deloitte since 1982, plans to retire from Deloitte in early June and has specialized in e-commerce, mergers and acquisitions, and Securities and Exchange filings, Groupon said.
In late March, Groupon rattled investors with a disclosure that its fourth-quarter results were worse than previously reported, as the company was hit with more expensive customer refund requests than expected as it expands into new types of deals.
Shares closed Monday at $10.71 and were up 1.3% after hours. Through Monday's close, the stock was down 46% from its initial public offering price of $20.

-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com

breaking down further to new lows

man this fell off a cliff.

 

-10% today

i think doing the same on yelp might make a pretty penny...

 

i havent done any searchs...

 

esp on the lockout period for yelpers

+20% here ahead of the numbers this afternoon. Amazing, somebody gonna get a hurt.

 

 

i think its leaked

We are about to find out.

 

Why would all the shorts panic here at the same time?

yelp might play catch up

2c vs 1c, beat estimates, so ... did somebody know this or were all the shorts leaving today just psychic?

i hope some one gets arrested

 

what a load of SHIT!!

11.69

Amazing run for anybody that was quick enough this morning

93% of the O/S is coming to market June 1st

Analyst Cuts Groupon (GRPN) Price Target to $8 as Concerns Weigh; Maintains Sell

Groupon to Combine China Venture With Tencent's FTuan -Bloomberg
6 days 4 hours 47 minutes ago - Dow Jones News

Groupon Inc. (GRPN) will combine an online commerce venture in China in which it holds a minority stake with a company backed by Tencent Holdings Ltd. (0700.HK), Bloomberg News reported Tuesday on its website.
Groupon's venture, Gaopeng, is to be combined with Tencent's FTuan, a move intended to strengthen Groupon's investment in China, Groupon said in a statement. Terms of the deal were not disclosed.
Groupon started Geopeng 16 months ago along with Tencent and Alibaba Group Holding Ltd. Chairman Jack Ma's Yunfeng Capital.

Kaltura Adds Groupon to Client Roster: Groupon to Use Enterprise Video Platform to Enhance Internal Communication and Collaboration
5 days 8 hours 35 minutes ago - Marketwire via Comtex

Kaltura (http://www.kaltura.com) announced today it has added Groupon (NASDAQ: GRPN) (http://www.groupon.com), the global pioneer in local ecommerce, to its roster of clients. Helping thousands of merchants in 48 countries efficiently market themselves to high quality customers to grow their businesses, Groupon intends to leverage the platform to step up the company's training programs, internal collaboration and communication using video.

"Kaltura's enterprise video solutions allow us to reduce the cost of training, increase workforce productivity, and engage employees both on a professional and social level," said Alan McIntosh, Chief Information Officer, Groupon. "People have widely adopted online video outside the office, and are ready and willing to do so at work. As an international company, the ability to communicate face to face is invaluable."

Integrating video into the enterprise is a growing trend. In a recent Forrester study, 25% of IT Decision Makers said they were already adopting Enterprise IP/digital video solutions for internal use while another 20% stated they were planning to do so. Groupon will leverage Kaltura's video solutions for learning and training, as well as employee engagement and collaboration. Using Kaltura's MediaSpace 'Corporate Tube' (http://corp.kaltura.com/products/video-applications/kaltura-mediaspace-video-portal) application, employees will be able to watch videos targeted to their specific information and training needs, view and post comments and even upload and share their own user-generated content, such as sales tips and tricks, best practices and more.

"We are excited to team with Groupon, one of the coolest companies on the web," said Ron Yekutiel, Kaltura Chairman and CEO. "Video is the strongest medium for communication in today's digital age. According to a recent study by Wharton School of Business, video viewers retain 50% more material than those who just view traditional information sources. We look forward to helping global organizations like Groupon increase productivity and reduce costs."

fall from grace still noose with a tight hold ....we'll see if recent lows hold up