Groupon fails to end lawsuit alleging fraud linked to IPO

(Reuters) - Groupon Inc failed to persuade a federal judge to dismiss a lawsuit accusing the daily discount deals provider of misleading investors about its financial prospects and internal controls before it went public in November 2011. U.S. District Judge Charles Norgle in Chicago said the lead plaintiff plausibly alleged that Groupon used improper "refund accounting" to boost revenue and reduce operating losses in initial public offering materials and subsequent regulatory filings, and knew or should have realized its statements were false. ...

via Tech News Headlines - Yahoo! News http://news.yahoo.com/groupon-fails-end-lawsuit-alleging-fraud-linked-ipo-223115918--sector.html