The Securities and Exchange Commission is examining Groupon Inc.'s revision of its first set of financial results as a public company, according to a person familiar with the situation.
The SEC decision to examine the circumstances surrounding Groupon's surprise revision is the start-up's latest run-in with the regulator. Groupon twice revised its finances before its November IPO. An SEC spokesperson declined to comment, as did a spokesman for Groupon.
If we did our accounts like Groupon do theirs ..we'd be posting from locked rooms to which we would not have the keys ..when is someone going to pull the plug on Groupon ..the scam was obvious long before the IPO..
and it isn't the only one with VC money, "pumping" and looking for dupes to buy in at, or just after, an IPO ..
Some of us have been saying this since the earliest days of Groupon..but went unheard due to the "ssssshhhh, there are commissions to be made here ..who cares if it is a scam, let's ignore those who say it is" effect..
Same thing happened for years before the sub prime problem and subsequent world wide banking "crash"..no one wanted to hear that the math was hinky and the figures were worthless and a scam being "spread around".because there were commissions to be made..
Groupon are not alone..and more "pundits" will again be "surprised" long after the obvious "scams" have been pointed out..so much dishonesty and lies gets a "pass" ..due to the hints of "commissions" and "bonuses" to be taken before the truth gets well known..