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Why is no one calling this out as FRAUD? They clearly and intentionally inflated results... a 200% difference off net income. Why is the SEC and FBI not invest
by tyrelb 15y ago
Why is no one calling this out as FRAUD? They clearly and intentionally inflated results... a 200% difference off net income.
Why is the SEC and FBI not investigating? And why are there no class-action lawsuits coming together already?
- tyrelb 15y agoActually, there are class action lawsuits starting: http://www.marketwatch.com/story/hagens-berman-investigates-groupon-following-restatement-of-financial-results-and-admitted-material-weakness-of-its-internal-controls-2012-03-30 http://www.marketwatch.com/story/hagens-berman-investigates-...
- tyrelb 15y agoAnd ANOTHER class action coming together: http://www.digitaljournal.com/pr/646802 http://www.digitaljournal.com/pr/646802
- byrneseyeview 15y agoBecause the nature of the restatement is that they got more product returns than they expected, so they had to change some accounting policies to account for that. This doesn't affect cashflow, so it has minimal bearing on the odds that they're going under.