Friday, March 30, 2012

Groupon revises 4th quarter results, shares fall

(Reuters) - Groupon Inc unnerved investors again after it increased its previously reported fourth-quarter net loss and cut its revenue, blaming higher-than-anticipated refunds on deals. The company, which has been criticized for its unorthodox financial reporting in the run-up to a highly publicized 2011 IPO, said in its annual report filed on Friday that it has a "material weakness" in internal controls over its financial statement. Shares in the company, the leader in the fast-growing Internet daily-deals space populated by rivals such as Amazon
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Groupon revises 4th

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