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Groupon Inc : Law Offices of Howard G. Smith Announces Continued Investigation On Behalf of Investors of Groupon, Inc.

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04/03/2012 | 02:20am CET

Law Offices of Howard G. Smith announces that it is continuing to investigate potential claims on behalf of purchasers of the securities of Groupon, Inc. ("Groupon" or the "Company") (NASDAQ: GRPN) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between November 3, 2011 and March 30, 2012, regarding Groupon's business, operations and financial condition were false and misleading.

Groupon operates an e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount in North America and internationally. Specifically, the investigation relates to the Company's March 30, 2012 disclosure that the Company was revising its reported year-end and fourth quarter financial results for 2011. According to the Company, the revisions resulted in a reduction to fourth quarter 2011 revenue of $14.3 million and an increase to fourth quarter operating expenses that reduced operating income by $30.0 million, net income by $22.6 million, and earnings per share by $0.04. The Company further disclosed that the revisions were primarily related to an increase to the Company's refund reserve accrual to reflect a shift in the Company's fourth quarter deal mix and higher price point offers, which have higher refund rates, and that the Company had a material weakness in its internal controls over its financial statement close process.

If you purchased Groupon securities between November 3, 2011 and March 30, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com


© Business Wire 2012
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Financials ($)
Sales 2016 3 142 M
EBIT 2016 23,2 M
Net income 2016 -154 M
Finance 2016 620 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 0,51x
EV / Sales 2017 0,42x
Capitalization 2 231 M
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Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 5,13 $
Spread / Average Target 32%
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Managers
NameTitle
Richard Williams Chief Executive Officer & Director
Eric P. Lefkofsky Chairman
Michael O. Randolfi Chief Financial Officer
Peter J. Barris Independent Director
Brad A. Keywell Independent Director
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