U.S. Securities and Exchange Commission reportedly launching preliminary investigation into Groupon's recent restatement of its Q4 results; Groupon also restated its finances twice before its November IPO
Cindy Allen
LOS ANGELES
,
April 3, 2012
(Industry Intelligence)
–
The Securities and Exchange Commission is investigating Groupon following the company's announcement that it would be restating its fourth-quarter results, The Wall Street Journal reported April 3, citing a person familiar with the matter.
The investigation is preliminary, and the SEC has not decided whether to launch a full-scale investigation, The Journal reported.
Groupon revised its financials twice before its November initial public offering.
Both the SEC and Groupon declined comment, The Journal reported.
The primary source of this article is The Wall Street Journal, New York, New York, on April 3, 2012.
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