CULVER CITY, Calif., Feb. 6, 2012 (GLOBE NEWSWIRE) -- Bidz.com (Nasdaq:BIDZ), a leading online retailer of jewelry, today announced that it received notice from the United States Securities and Exchange Commission ("SEC") that the investigation of the Company has been completed. The SEC does not intend to recommend any enforcement action against the Company.
"After four years of investigation, we are pleased to announce that the SEC has concluded its investigation," stated, David Zinberg, Chief Executive Officer. "Throughout these proceedings, we remained fully cooperative with the SEC. We are gratified to share this positive news with our investors and employees that this matter is now behind us."
About Bidz.com
Bidz.com, founded in 1998, is a leading online retailer of jewelry. Bidz offers its products through a live auction format as well as a fixed price online retail store, Buyz.com. Bidz also operates Modnique.com, a division of Bidz.com, a flash sale shopping website, offering authentic premium brand name merchandise. Modnique offers its members exclusive access to 24-72 hour sales events on designer apparel, accessories, shoes, and housewares and much more at price points up to 85% below traditional retail prices.