According to NOLA.com:

Attorney General Buddy Caldwell has served a search warrant at the ACORN office at 2609 Canal Street, according to Tammi Arender Herring, a spokeswoman with the office.

Investigators in khaki pants and polo shirts loaded several dozen computers and other electronic items into an SUV. They are also carrying records out of the building on handcarts.

The large office building sits at the corner of Dorgenois and Canal. ACORN staffers were given no notice that a search would be conducted today, Herring said.

From WDAM in New Orleans:

Caldwell said investigators will copy records and hard drives, then return them to ACORN.

He said the original allegations of embezzlement were made last year by ACORN board members who were fired after they asked for a forensic examination of the group’s books.

ACORN fired the longtime director of its Louisiana chapter last month, citing a lack of accountability.

by Capitol Confidential Big Governm

This seems like bad timing. Usually a warrant is done rather early in an investigation (specifically before the target realizes it's time to start destroying evidence). The probe was announced months ago. If there's much evidence that hasn't been shredded or wiped I'd be amazed. That said, good on the LA AG for having the stones to look into this snake pit when no other agency will.