We are investigating Groupon, Inc. (GRPN) (“Groupon” or the “Company”) for potential violations of the federal securities laws.
On February 18, 2020, Groupon reported sales of $612.3 million, a 23% decline year-over-year. The Company’s adjusted EBITDA for fiscal 2019 was reported at $227.2 million, a significant miss from its November 2019 forecast of $270 million. Groupon also announced a “transformational plan to exit Goods” in North America by the third quarter and globally by the end of the year. Then, on March 25, 2020, Groupon abruptly announced that its Chief Executive Officer, Rich Williams, and Chief Operating Officer, Steve Krenzer, were “no longer serving” in their roles, but would continue as employees of the Company.