Deal-setting Internet firm Groupon says U.S. finance regulators have finished a review of the company's questionable corporate reports.
The Wall Street Journal reported Saturday that Groupon released a letter dated Oct. 4 from the Securities and Exchange Commission that said it could take up the investigation at a later date, but for now had completed a review of Groupon's corporate reports that was promoted by a revision of its 2011 report.
Groupon revised its 2011 report, saying customer refunds were higher than expected.
The surprise move came on the heels of an SEC request in the fall for Groupon to revise its financial statements before the firm made its public debut last fall.
Groupon went public in November 2011 at $20 per share. By Friday, shares had fallen to a new low at $3.83 per share.
Most Popular Stories
- 5 Notable Hispanic Technology Executives
- Top Hispanic Tech Companies Push for the Top
- Visa, MasterCard Team Up to Focus on Payment Security
- Russia, Crimea Discuss Referendum
- China Urges Malaysia Flight Emergency Response
- Taco Bell Rings Up Breakfast Menu
- Sunday Starts Daylight Saving Time
- For Obama, a Last Stab at Improving Ties with Capitol Hill
- Three Americans on Missing Malaysia Airlines Plane: State Department
- California Establishes Center for Coffee Study