The SEC is taking yet another look at Groupon (GRPN) following the company's first revisions as...


The SEC is taking yet another look at Groupon (GRPN) following the company's first revisions as a public firm, though it's not yet a formal investigation. (last summer's probe)

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Comments (2)
  • mike mohr
    , contributor
    Comments (452) | Send Message
     
    Nothing will happen, none will go to jail and the crooks will the take the money and run.
    2 Apr 2012, 10:33 PM Reply Like
  • System6
    , contributor
    Comments (39) | Send Message
     
    So the CFO was permitted to sell some shares into the IPO, correct? Usually that complicates things meaningfully when there's a subsequent accounting restatement and share price hit. Absolutely shark-bait for the D&O suits.

     

    Then the board affirms they "stand by the CFO," which is also a dicey proposition.

     

    Now an SEC review?

     

    What's certain is that Groupon's legal expenses are going to skyrocket, there will be a settlement payment at some point in the future, and the audit costs and management distraction in the company's future will be breath-taking.
    2 Apr 2012, 10:52 PM Reply Like
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