• Home
  • About
  • Webcasts
  • ‘Enforcement 40’ for 2020
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Securities-Docket-Leaderboard_9Sec
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2009 / February / 25 / Bidz.com Discloses SEC Formal Investigation of its Inventory Accounting

Bidz.com Discloses SEC Formal Investigation of its Inventory Accounting

By Securities Docket on February 25, 2009, 6:28 am

In a press release announcing its fourth quarter results, Bidz.com (BIDZ) added an additional paragraph near the bottom of the release.  It stated that

The Company was notified recently by the SEC of a formal investigation relating to certain aspects of its inventory accounting practices, as well as other matters. The Company intends to fully cooperate with the SEC regarding this matter. The Company remains confident its inventory accounting is correct and in full accordance with GAAP.

Blogging Stocks notes that ex-con Sam Antar has been blogging about Bidz’ strange inventory accounting practices for months.

Read the Bidz.com press release

Blog Widget by LinkWithin

Posted in SEC | Tagged Formal Investigation, Investigations

« Previous Next »

‘Enforcement 40’ for 2020

Ankura 260x250

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2021 Securities Docket.

Powered by WordPress and Hybrid.