Groupon woes continue with lawsuit, low earnings
Groupon's stock hit an all-time low last week, and the company has been hit with a lawsuit from shareholders for dishonest business practices.
Groupon's stock hit an all-time low last week, and the company has been hit with a lawsuit from shareholders for dishonest business practices.
By Joshua M. Brown, Guest blogger
So it turns out that Web 2.0 investing isn't all exits and lollipops and blazers with hoodies underneath...
Things get serious whenever you're talking billions instead of a few million between friends.聽 I admire Groupon founder and CEO Andrew Mason for trying to keep things the way they were.聽 But that's not how it works when you're a public company with hundreds of thousands of shareholders - the frat boy-wonder schtick just isn't cute anymore.
From TIME:
Also, check out Francine's expert take on what responsibility Ernst & Young have here, if any, for the weak controls and restatement...