GROUPON, INC. (NASDAQ:GRPN) Files An 8-K Other Events
Item 8.01 Other Events
quarter of 2016 that the parties in two pending shareholder
derivative actions>reached an agreement in principle to
settle those cases (the Derivative Litigation). On January 23,
2017, the Company posted to its investor relations website
(http://investor.groupon.com) a Notice of Proposed Settlement and
Settlement Hearing (Notice) and Stipulation of Settlement in
accordance with a January 9, 2017 court order preliminarily
approving the proposed settlement of the Derivative Litigation.
Accordingly, the settlement has received preliminary approval
and, if finally approved by the court (subject to any appellate
review), will fully resolve the Derivative Litigation. to the
terms of the settlement, the Company will implement certain
corporate reforms. The parties have not yet reached an agreement
regarding a reasonable plaintiffs attorneys fee award to be paid
as part of the settlement. As set forth in the Notice, any
objections to the settlement must be filed in writing with the
court no later than March 8, 2017. A hearing is scheduled for
April 5, 2017 to obtain final approval of the settlement.
settlement and the hearing scheduled for April 5, 2017 can be
found on the Companys investor relations website and in the
Notice, which is filed as Exhibit 99.1 to this Current Report on
Form 8-K and incorporated herein by reference.
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Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits:
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Exhibit No.
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Description
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99.1
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Notice of Proposed Settlement and Settlement Hearing
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Lefkofsky, et al>(Case No. 12 CH 12420 consolidated with 12 CH
19431) pending before the Chancery Division of the Circuit Court
of Cook County, Illinois and In re Groupon Derivative
Litigation>(Case No. 12-CV-5300) pending before the United
States District Court for the Northern District of
Illinois.
About GROUPON, INC. (NASDAQ:GRPN)
Groupon, Inc. operates online local commerce marketplaces throughout the world that connect merchants to consumers by offering goods and services at a discount. The Company operates through three segments: North America, which represents the United States and Canada; EMEA, which consists of Europe, the Middle East and Africa, and international operations (Rest of World). It offers deals on goods and services in approximately three categories: Local Deals (Local), Groupon Goods (Goods) and Groupon Getaways (Travel). Collectively, Local and Travel consists of its services offerings and Goods, which the Company refers as Shopping, which reflect its product offerings. In its Goods category, the Company acts as the merchant of record, particularly for deals in North America and in EMEA. It offers deals on products for which it acts as the merchant of record. It acts as a marketing agent by selling vouchers (Groupons) that can be redeemed for products or services with third party merchants. GROUPON, INC. (NASDAQ:GRPN) Recent Trading Information
GROUPON, INC. (NASDAQ:GRPN) closed its last trading session up +0.01 at 3.50 with 6,418,625 shares trading hands.