Groupon settles stockholder derivative actions, adopts governance reforms

Groupon, Inc.

Settlement of four derivative actions requires Groupon to implement corporate governance reforms.
No monetary payment from Groupon; attorneys' fees up to $2.8M covered by D&O insurance.
Court hearing for final approval scheduled for June 12, 2023; objections due May 22, 2023.
Individual defendants admit no wrongdoing; claims released with prejudice upon court approval.
Groupon acknowledges plaintiffs' actions caused adoption of reforms, conferring substantial benefit.

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