The hole into which Groupon (NASDAQ: GRPN) has fallen has gotten even deeper. The Wall Street Journal reports that the Securities and Exchange Commission has begun to examine the firm’s first quarterly report as a public company. Groupon has since revised some of the figures from that report, and it admitted its account had a “material weakness.” This caused enough concern to push shares near an all-time low. Some analysts question whether Groupon’s business model is viable long term. The more closely watched problem will be whether Groupon makes further changes to its earnings. The Groupon board says it stands behind management. That may not last if the humiliating string of missteps continues.
Let’s see if the Groupon CEO and CFO keep their jobs
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
