Just in time for its one-year anniversary of being a public company, Groupon’s response to an SEC inquiry into its accounting practices was made public. It was an inauspicious reminder that to regulators and investors, Groupon — once the tech industry’s golden child — remains a question mark. The stock market responded to the disclosure on Friday by sinking Groupon’s share price some 5 percent to a new low of $3.83. The SEC had questioned how the company estimates customer refunds that are part of its “Groupon Promise” guarantee.
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Groupon Wheezes Into Year 2
Posted by: Erika Morphy November 5, 2012 10:48 AMJust in time for its one-year anniversary of being a public company, Groupon’s response to an SEC inquiry into its accounting practices was made public. It was an inauspicious reminder that to regulators and investors, Groupon — once the tech industry’s golden child — remains a question mark. The stock market responded to the disclosure on Friday by sinking Groupon’s share price some 5 percent to a new low of $3.83. The SEC had questioned how the company estimates customer refunds that are part of its “Groupon Promise” guarantee.