A securities class action lawsuit against Groupon was filed in Illinois on behalf of investors.  The complaint, filed April 16, 2012, in the United States District Court for the Northern District of Illinois, alleges that Groupon violated the federal securities laws by issuing false and misleading statements to investors.

The class action is intended to include investors who purchased or otherwise acquired shares of Groupon common stock between November 4, 2011 and March 30, 2012.  The deadline to move the court to be lead plaintiff is June 4, 2012. Continue reading “Securities class action filed against Groupon”

Groupon, Inc. (GRPN), the biggest seller of so-called daily deals, agreed to pay $8.5 million to settle a class action lawsuit alleging the expiration dates on its coupons are illegal.  Customers who bought Groupon vouchers before December 1, 2011 can either redeem these past their expiration date or, if they are unable to do so, obtain a refund from the $8.5 million fund, according to the proposed settlement filed March 29, 2012 in federal court in San Diego. Residents in some states can seek refunds only for vouchers sold after August 22, 2010, according to the filing.  Groupon also agreed for three years not to sell more than 10 percent of its daily deals with an expiration date of less than 30 days after their issue date.  Continue reading “Groupon settles class action”