Groupon Hit With Another Lawsuit From Company’s New Shareholder

Posted on Apr 10 2012 - 8:16am by Editorial Staff

The deal giant Groupon has been hit with another lawsuit from company’s new shareholder. The latest complaint, filed Thursday in U.S. District Court for the Northern District of Illinois Eastern Division, is a derivative lawsuit that accuses the daily-deals site’s directors of management failure. Theresa Monturano in the lawsuite claims the company’s management failed its responsibilities when it announced late last month that an accounting error would force it to revise its first set of financial results as a public company. The revisions increased its net loss for the fourth quarter by $22.6 million and reduced revenue for the quarter by $14.3 million to $492.2 million.

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