NEW YORK, Feb. 12, 2016 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that it has reached an agreement in principle to resolve the class action entitled In re Groupon, Inc. Securities Litigation, No. 12 C 2450, pending in the United States District Court for the Northern District of Illinois. The agreement calls for the establishment of a $45 million settlement fund. The settlement is contingent upon court approval.
“We are pleased to have reached this favorable settlement for class members,” said Josh Silverman, a partner at Pomerantz and lead counsel for the class.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com