Groupon’s headaches are growing more serious. Just days after an accounting snafu forced the discount website to reveal a greater-than-reported fourth-quarter loss, the company was slapped with a shareholder lawsuit accusing its …
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Why Groupon’s Fuzzy Math Should Worry Investors
What is it with daily-deals website Groupon and accounting? The latest snafu came Friday when the company restated earnings to reflect a larger fourth-quarter loss after failing to set aside enough money to account for customer …
Occupy the SEC: Moving From the Campsite to the Weeds of Regulatory Reform
The surest way to rankle a supporter of the Occupy Wall Street movement is to repeat the common claim that the movement has no defined goals, a criticism that has dogged the group since its inception. But last week an offshoot of …
Feds Charge ‘Rudy’ — Yes, That ‘Rudy’ — With Stock Fraud
This time, Rudy got sacked.
Daniel “Rudy” Ruettiger, best known as the indomitable underdog who realized his dream of playing football at Notre Dame, was charged with deceiving investors Friday by the Securities and Exchange …
Would You Rat Out Your Boss? Majority of Americans Say Yes — For a Price
More than three-quarters of Americans would blow the whistle on wrongdoing at their workplace, according to a newly released survey — but only if they could do so anonymously, without fear of reprisal, and — and this is a big …
When a Savings Account is Not a Savings Account
Money market mutual funds are not the same as savings accounts. A lot of people don’t understand that, and now the SEC wants to make it clear.
5 Ways to Recognize a Financial Scam
With a tough economy making timely retirement less likely for many folks, retirement-related financial scams may be on the upswing. Here are five ways to know if you are being played.
China’s Hot New Export: Financial Fraud
Stock and accounting fraud are nothing new. And yes, we have plenty of home-grown frauds. (Remember Enron?) But so far this year, the vast majority of stock fraud seems to be coming to American investors by way of China.
Is Insider Trading Here to Stay?
SAC Capital Advisors, one of the world’s biggest hedge funds run by zillionaire Steven Cohen, is finally under the gun for insider trading, according to the Wall Street Journal.
The issue is over trades made in an account Cohen oversees, which were suggested by former fund managers of his who’ve already pleaded guilty to insider …
Just How Rotten Were Morgan Stanley’s Mortgage Deals?
- Eh tu, Morgan Stanley? The Wall Street Journal is reporting this morning that the Securities and Exchange Commission is looking into whether Morgan Stanley, too, broke securities laws when it structured mortgage securities and then made money by betting against them. The SEC already has brought a similar case against Goldman.
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