All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
ENDURANCE INTERNATIONAL GROUP gets served with subpoena
SEC Investigation
Endurance International Group Holdings, Inc. ("Endurance") received a subpoena dated December 10, 2015 from the Boston Regional Office of the Securities and Exchange Commission (the "SEC"), requiring the production of certain documents, including, among other things, documents related to Endurance's financial reporting, including operating and non-GAAP metrics, refund, sales and marketing practices and transactions with related parties. Endurance will fully cooperate with the SEC's investigation. Endurance can make no assurances as to the time or resources that will need to be devoted to this investigation or its final outcome, or the impact, if any, of this investigation or any proceedings on Endurance's business, financial condition, results of operations and cash flows.
Ref:
Comments
Fucking amazing. I had a bluehost account with them and now the feds will be all over customer information.
you think there are things Uncle Sam doesn't know about you yet????
From: https://www.bostonglobe.com/business/2015/12/17/burlington-tech-company-subpoenaed-sec/mwUzD4B408YTbK5djsNDwN/story.html
The companies disclosed the Dec. 10 subpoenas in documents filed this week with the SEC. Both said they would fully cooperate with the investigations.
“We believe our published reports continue to be complete and accurate in all material respects,” said an Endurance spokesman, who also said the company still expects the deal with Constant Contact to close on schedule.
Constant Contact did not respond to requests for comment.
Constant Contact also reported that it faces a class-action lawsuit related to the deal with Endurance. The suit, filed in Delaware Chancery Court on Dec. 11, says that the company’s directors failed in their fiduciary duties to shareholders by selling the company at too low a price.
Such lawsuits are routinely filed during acquisitions, said Ilya Grozovsky, senior equities analyst at National Securities in New York. “The payday is for the lawyers more than any shareholders,” Grozovsky said. “My guess is they’re just digging for straws.”
But Grozovsky said the SEC investigation “is not standard practice. That the SEC has asked for this is a little bit unique.”
Endurance plans to pay for Constant Contact with money borrowed from banks. Its spokesman said that as of now, there’s no reason to think the SEC investigation will interfere with the financing arrangements. ”We can’t speak for the banks on their position or view,” the spokesman said, “but at this time we have no reason to believe that this information will affect the availability of the commitment.”
Endurance’s stock closed at $11.20 Thursday, down $1.81, or 14 percent. Constant Contact stock closed at $28.69, down $1.45, or 4.8 percent