Groupon may, or may not, ultimately succeed as a business. But it certainly hasn’t been cheated of its time in the spotlight. First, it pioneered the online daily deals business, becoming a start-up super-star and spawning hundreds of imitators. Then it became a poster-child for how not to conduct an IPO, forced to issue multiple re-statements of its finances in the weeks between registration and offering, only to see its stock crater almost immediately after hitting the Street. Now, it finds itself at the center of the debate over the future of financial regulation. Groupon’s latest earnings restatement comes on the eve of President Barack Obama’s expected signing of the JOBS Act, which, among other things, aims to make it easier for start-ups to raise capital by relaxing some of the disclosure and reporting requirements for early-stage public companies. Many analysts now worry that the law could end up producing more Groupon-like fiascoes for investors by making it easier for companies to hide problems. Others, however, argue it was investors’ own fault for grossly overvaluing Groupon’s business in the first place. Now if Groupon could just figure out how to turn notoriety into a business model it might really have something.