Taser International Inc. said that the Securities and Exchange Commission has ended an investigation into the stun gun maker's accounting and recommended that no action be taken against the company.
Nearly a year ago, Taser said that the SEC had launched an inquiry into claims the company has made about its safety studies, and that regulators were also looking into a $1.5 million, end-of-year sale that some analysts had questioned, saying the deal appeared to inflate sales to meet annual projections. Then, in May, Taser said that miscalculated tax amounts related to employee stock options had led to the restatement of its 2004 earnings and reported that its accountant had discovered an internal controls weakness.
In September, the SEC announced that it was formally investigating the company on those issues, and had expanded the scope of the investigation to examine whether outsiders had acquired internal company information to manipulate stock price.
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