Report: SEC Examines Groupon's Surprise 4Q Revisions

By FOXBusiness

Groupon Shares Sink on SEC Probe

Continue Reading Below

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.

Continue Reading Below

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


More On This...

What do you think?