Groupon Investors Ask Court To Halt Bundled Proxy Vote

Law360, New York (May 28, 2013, 1:36 PM EDT) -- A putative class of Groupon Inc. shareholders sued the company Friday to block an upcoming proxy vote they claim would force investors to cast a single ballot on two separate issues in violation of U.S. Securities and Exchange Commission unbundling rules.

The suit, filed in Delaware federal court by Groupon shareholders Brian MacCormack and Michael Traugutt, takes aim at the company’s proxy materials for its annual shareholder meeting June 13. Investors are being asked to vote on two amendments to Groupon’s stock incentive plan, one that...
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