Groupon Investigated By Law Firms As Shares Plummet 44% After Q4 Earnings

Multiple law firms announced Wednesday that they are looking to file a class-action lawsuit on behalf of Groupon Inc. GRPN investors.

What Happened

Law offices of Howard G. Smith, Kaplan Fox & Kilsheimer LLP, and Gibbs Law Group all said that they are launching an investigation against the recent events related to Groupon on behalf of the company's investors.

Groupon shares plunged to an all-time low in Wednesday's trade as the e-commerce company disappointed in quarterly earnings.

It reported fourth-quarter earnings per share of 7 cents, missing analyst estimates of 15 cents by a whopping 53.33%.

Groupon also said that it would stop selling physical items on its platform, and shared a plan to relaunch its brand with a new market strategy.

Price Action

Groupon's shares closed 44.26% lower at $1.70, the lowest in its history of public trading. The shares inched further 0.6% lower at $1.69 in the after-hours.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsRetail SalesLegalGeneralGroupon Inc.
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!