Tag: earnings revision

Friday was a horrible day for investors in Groupon.  The stock tumbled 6 percent on news that the company would restate it earnings after underestimating customer refunds, which led its auditor to declare the company had a material weakness in its internal controls. That kind of news is never welcome, and Groupon’s management has a lot to do to win back investor confidence, but at least it didn’t compound its problems by trying to hide bad news. I give the Groupon investor relations staff high marks for its handling of this episode.  Here’s what they got right: F... Read More