Groupon $45M Securities Settlement Approved by Judge

Groupon Inc. won final court approval of a $45 million settlement with investors who claimed the company misrepresented its financial results ahead of its 2011 initial public offering (In re Groupon Inc. Sec. Litig.settlement approved).

The class of investors who bought shares from the Nov. 4, 2011, sale until March 30, 2012, won about one-third of the $130 million relief sought through litigation, according to the settlement filed in Chicago federal court. Groupon was accused of trying to claim revenue collected for its merchant partners as its own, leading to an overstatement in sales by almost 180 percent ...