Report: SEC Examines Groupon's Surprise 4Q Revisions

By FOXBusiness

Groupon Shares Sink on SEC Probe

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Groupon Shares Sink on SEC Probe

FBN’s Stuart Varney breaks down the stories moving the markets early in the trading day.

Maybe Groupon (NASDAQ:GRPN) needs to start offering daily deals for dealing with the Securities and Exchange Commission.

In the latest headache for the daily deals site, the SEC has opened a preliminary probe into Groupon’s surprise decision to downwardly revise its first financial results as a public company, The Wall Street Journal

Shares of Chicago-based Groupon plummeted almost 17% and tumbled below its $20 IPO price on Monday in response to the company slashing its fourth-quarter revenue and deepening its loss due to higher-than-expected refunds.

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The SEC has yet to decide whether to launch a formal investigation into the revisions, the Journal

Despite all of the accounting headaches, Jason Child, Groupon’s finance chief, continues to have the support of CEO Andrew Mason, the Journal

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