Groupon may face SEC probe over earnings revision
Groupon's revision of its first set of financial results as a public company has apparently attracted the attention of federal regulators.
The U.S. Securities and Exchange Commission is examining last week's announcement but hasn't decided whether to launch a formal investigation, an unnamed source familiar with the situation told The Wall Street Journal.
Groupon representatives declined to comment on the report.
The daily deals site said in a regulatory filing Friday that it had discovered "material weakness" in internal controls over its financial statement and that its fourth-quarter results were worse than previously stated … Read more