SEC Ends Bidz Investigation
February 12, 12
(IDEX Online News) – The Securities and Exchange Commission does not intend to recommend any enforcement action against Bidz.com, the company reported. SEC notified Bidz that it has ended its investigation of the company.
"After four years of investigation, we are pleased to announce that the SEC has concluded its investigation," stated CEO David Zinberg.
"Throughout these proceedings, we remained fully cooperative with the SEC. We are gratified to share this positive news with our investors and employees that this matter is now behind us," Zinberg added.
Bidz is still facing delisting from NASDAQ because its shares are trading below the minimum $1.00 per share.