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The Ultimate Irony of Groupon
- CharlieA 14y agoHilarious irony aside, what particularly is it that investors believe the company misrepresented about their financials? For people who didn't follow this too closely?
- komaiko 14y agoAccording to MarketWatch: The Complaint alleges that defendants misrepresented or failed to disclose that: (a) the Company materially understated refund reserves for fourth quarter 2011 due to a failure to properly account for coupon refunds; (b) as a result, the Company materially misstated its previously reported fourth-quarter and full-year 2011 financial results; and (c), the Company lacked adequate internal and financial controls.
- harryf 14y agoAccording to http://venturebeat.com/2012/03/31/why-groupon-is-poised-for-collapse/ http://venturebeat.com/2012/03/31/why-groupon-is-poised-for-... it's how liabilities related to refunds have been reported
- komaiko 14y agoYea. Basically a ton of accounting stuff that, in the eyes of the plaintiffs and the class action lawyers, Groupon had a duty to disclose before the IPO.
- komaiko 14y agoI can't wait to see what happens to their stock in the morning...
- deleted 14y ago[deleted]
- havemurci 14y agoImgur screencap because the website is down: http://i.imgur.com/YpkNp.png http://i.imgur.com/YpkNp.png
- komaiko 14y agoThanks. Traffic jam. Looks like it's back up...
- beibeiq 14y agoI wonder what Groupon's Spokescat (http://www.quora.com/Groupon/Whats-the-story-behind-the-Groupon-bling-cat http://www.quora.com/Groupon/Whats-the-story-behind-the-Grou...) has to say about this fiasco.