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Kogan shares worth $17 million sniffed by corporate watchdog

The article from MSN discusses how the Australian Securities and Investments Commission (ASIC) has initiated an investigation into Kogan.com, an online retailer, following concerns over potential breaches of corporate laws. The scrutiny comes after Kogan's shares experienced a significant drop, losing approximately $17 million in market value. The investigation focuses on the company's financial reporting and continuous disclosure obligations. This follows a tumultuous period for Kogan, which has seen its share price plummet by 80% over the past year due to various operational challenges, including supply chain issues and a shift in consumer behavior. The ASIC's interest was piqued by Kogan's recent financial statements and announcements, which might have misled investors about the company's financial health and future prospects.

Read the Full MSN Article at:
[ https://www.msn.com/en-au/money/economy/kogan-shares-worth-17-million-sniffed-by-corporate-watchdog/ar-AA1vUUly ]