SEC Ends Probe Of Online Retailer Bidz.com

Law360, New York (February 6, 2012, 3:43 PM EST) -- The U.S. Securities and Exchange Commission has ended its investigation of online retailer Bidz.com Inc. and does not plan to bring an enforcement action, the company said Monday.

In a filing with the SEC, Bidz.com said the regulator had dropped its probe into the company's inventory reserve policies. The company first acknowledged the investigation in 2009, but gave little information about its genesis or targets.

"After four years of investigation, we are pleased to announce that the SEC has concluded its investigation," Bidz.com CEO David Zinberg...
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