The Securities and Exchange Commission formally announced that it will not take action against Taser International Inc. after completing an investigation into safety claims, accounting practices and issues related to trading of the stun-gun maker's stock.
In late 2004, 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 2005, 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.
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