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Groupon Falters with Accounting & SEC

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First the news broke that Groupon announced an accounting error with their fourth quarter revenue figures and now it was discovered that the SEC is investigating the company. The accounting error or ‘material weakness’ in internal controls over its financial statement meant that figures were not as high as first listed and the company experienced more of a loss than originally reported due to refunds to merchants. Now it seems that stock values are falling and [URL="http://www.mediapost.com/publications/article/171647/sec-probes-groupon.html"]MediaPost[/URL] is reporting a number of other problems and features links to many other articles pointing out flaws and problems with Groupon.

Also see: [URL="http://www.mediapost.com/publications/article/171527/groupon-reveals-accounting-error.html?edition=45223"]Groupon Reveals Accounting Error[/URL]
and
[URL="http://pandodaily.com/2012/04/03/as-wall-street-points-fingers-at-groupon-three-fingers-point-back/"]As Wall Street Points Fingers at Groupon, Three Fingers Point Back[/URL]

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