Kogan shares worth $17 million sniffed by corporate watchdog

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Kogan shares worth $17 million sniffed by corporate watchdog

//stocks-investing.news-articles.net/content/202 .. th-17-million-sniffed-by-corporate-watchdog.html

Published in Stocks and Investing on Sunday, December 15th 2024 at 21:01 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

A well-timed and lucrative sale has the regulator intrigued. The post Kogan shares worth $17 million sniffed by corporate watchdog appeared first on The Motley Fool Australia.

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 ]

N※N

Kogan shares worth $17 million sniffed by corporate watchdog