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The first two shareholder lawsuits were filed Tuesday in federal court in Chicago after the markets closed, seeking class-action status for people who bought st

by edw519 15y ago

The first two shareholder lawsuits were filed Tuesday in federal court in Chicago after the markets closed, seeking class-action status for people who bought stock before the company restated fourth-quarter financial results on Friday. Perhaps those people should have been reading Hacker News: http://www.hnsearch.com/search#request/all&q=groupon&sortby=points+desc http://www.hnsearch.com/search#request/all&q=groupon&#38... (The first post is rather long and fairly neutral, but check out some of the posts (and their dates) right after that.)

tucson 15y ago
Thanks for the link. What I find troubling is to read so many articles pointing to shady business practices from Groupon and bubble valuation, and still the SEC lets the IPO go through and investors lose their money - that part did not happen yet but it seems written on the wall.
- radioact1ve 15y ago
  Could the SEC really do that? Just outright stop an IPO?
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aaronharnly 15y ago
It's interesting looking through the history. In the chronological ascending view, things are pretty overwhelmingly positive for the first 10 pages: http://www.hnsearch.com/search#request/submissions&q=groupon&sortby=create_ts+asc&start=90 http://www.hnsearch.com/search#request/submissions&q=gro... There are articles with headlines like "Industry-Changing, Profit Machine", "Is Groupon The Next Google?" (money quote from the article: "I think that, if anything, Groupon is severely undervalued.", etc. Prize for the first seriously skeptical piece discussed on HN is "Why Groupon is Overvalued" by Phil Michaelson: http://news.ycombinator.com/item?id=1288116 http://news.ycombinator.com/item?id=1288116