A lawsuit was filed by an investor in shares of Groupon Inc (NASDAQ:GRPN) in connection with the annual limit of stock grants and NASDAQ:GRPN stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 06/05/2013 -- An investor, who purchased shares of Groupon Inc (NASDAQ:GRPN), filed a lawsuit against Groupon Inc in connection with the plan to increase the annual limit of stock grants.
If you purchased shares of Groupon Inc (NASDAQ:GRPN), you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges the defendants are trying to increase the annual limit of stock grants per executive from one million to 7.5 million.
In the Proxy Statement filed by the Groupon Inc with the Securities and Exchange Commission (“SEC”), the company said that it is proposing to increase the individual limit on annual share awards from 1,000,000 shares to 7,500,000. Furthermore, the proxy Statement states that the Board is recommending the approval of an increase to the maximum allowable shares that can be granted to any one individual in a calendar year from 1,000,000 to 7,500,000 million shares.
Groupon Inc reported that its annual Total Revenue rose from $312.94 million in 2010 to over $2.33 billion in 2012 and that its Net Loss over those time periods declined from $789.46 million to $54.77 million.
Shares of Groupon Inc (NASDAQ:GRPN) declined from over $26 per share in November 2011 to as low as $2.76 per share in November 2012. Since then NASDAQ:GRPN shares regained some value and reached in the end of May almost $7.70 per share.
On June 4, 2013, NASDAQ:GRPN shares closed at $7.00 per share.
Those who purchased shares of Groupon Inc (NASDAQ:GRPN), you have certain options and you should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego