Mamma.com Gets Formally Probed By SEC

Several sources, including this Dow Jones story, are reporting that the SEC's (Security and Exchange) Montreal-based search engine, Mamma.com, has been "converted" into a formal investigation.

The metasearch and online direct marketing service company said the SEC may consider matters related to trading in the company's securities.The SEC is also investigating whether an individual and persons acting jointly or with him may have had a significant influence on the company in the past as a result of undisclosed shareholdings.

The SEC began an informal investigation of Mamma.com about a year ago when the the government agency requested documents from the company.