T = Trends for a Stock’s Movement
Groupon offers online retail services. The company provides daily deals on the stuff to do, eat, see, and buy in more than 500 markets in 44 countries. It provides an online service that lets groups of people create campaigns to pool resources, including money and personal commitments to take action, and it allows users to sell products and transact business online. Groupon is poised to see rising traffic as it provides consumers with ways to save on common shopping experiences and activities.
Groupon has failed to get the lawsuit concerning its IPO dismissed, so it will be moving forward, reports Reuters. Last week, U.S. District Judge Charles Norgle in Chicago said that allegation that the company used improper “refund accounting” was plausible. These accounting methods made the revenue higher and the operating losses lower in IPO materials. At the same time, the Judge denied the request of those who arranged the IPO, Credit Suisse (NYSE:CS), Morgan Stanley (NYSE:MS), and Goldman Sachs (NYSE:GS) to dismiss these claims. Groupon has refused to comment on the lawsuit, says Bloomberg.