Comscore was recently considered as a potential challenger to industry giant Nielsen in attempts to measure audiences across different platforms, including TV and digital. But the company has struggled recently, with its new CEO and president departing earlier this year not long after joining.
that Comscore had a practice of recording "nonmonetary revenue" for data-swapping deals with other companies, and the SEC saying it was investigating several allegations against the company.and settlement Tuesday. It said between 2014 and 2016, the company under CEO Serge Matta "entered into non-monetary transactions for the purpose of improperly increasing its reported revenue.
"The SEC's orders also find that Comscore and Matta made false and misleading public disclosures regarding the company's customer base and flagship product and that Matta lied to Comscore's internal accountants and external audit firm," the organization said in a release.
Comscore and Matta agreed to settle the charges without admitting or denying the SEC's findings, the release said. "Comscore and Matta agreed to cease-and-desist from future violations of the antifraud provisions of the federal securities laws and to pay penalties of $5 million and $700,000, respectively," the release said. "Matta also agreed to reimburse Comscore $2.1 million" for profits from the sale of Comscore stock and incentive-based compensation.
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