Groupon’s announcement last week that it was revising its financial results for the fourth quarter has apparently caught the attention of the U.S. Securities and Exchange Commission. The agency is taking a look at Groupon’s financials. This development caps a run of bad news for the company over the past few days. On Friday, Groupon announced it would revise its results for Q4, citing an inadequate amount of money set aside for customer refunds. This has become an issue as more of the deals offered on the site — such as medical packages or vacations — are falling in the “very expensive” category.
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SEC to Take a Gander at Groupon
Posted by: Erika Morphy April 3, 2012 12:14 PMGroupon’s announcement last week that it was revising its financial results for the fourth quarter has apparently caught the attention of the U.S. Securities and Exchange Commission. The agency is taking a look at Groupon’s financials. This development caps a run of bad news for the company over the past few days. On Friday, Groupon announced it would revise its results for Q4, citing an inadequate amount of money set aside for customer refunds. This has become an issue as more of the deals offered on the site — such as medical packages or vacations — are falling in the “very expensive” category.