Mamma.com under formal SEC investigation

An informal probe of Canadian search engine company Mamma.com, by the US Securities Exchange Commission (SEC) has become a formal investigation according to a press release sent out earlier this week.The release stated, “The company believes that as part of its investigation, the SEC may consider matters related to trading in the company’s securities and whether an individual and persons acting jointly or in concert with him may have had a significant influence on the Company in the past as a result of undisclosed shareholdings.”

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-- MDT