The company settled the complaint for $5 million.
media analytics firm Comscore with fraud, alleging the company overstated revenue and made false statements about key performance metrics under its previous CEO.
Comscore would swap sets of data with other companies without exchanging money. The company would then allegedly report revenue from those transactions anyway in order to inflate revenue. The SEC also found that Matta made “false and misleading public disclosures regarding the company’s customer base and flagship product.”Matta also said he would reimburse Comscore $2.1 million and will no longer be able to serve as an officer or director of a public company for 10 years.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former Nissan CEO Carlos Ghosn settles SEC charges over $140 million in undisclosed compensationThe U.S. Securities and Exchange Commission settled charges Monday against former Nissan CEO Carlos Ghosn and its former director Greg Kelly on Monday over false financial disclosures that omitted more than $140 million in total compensation.
Read more »
Nissan, Carlos Ghosn Settle SEC Fraud Charges For $16 MillionGhosn still faces trial in Japan.
Read more »
SEC charges Comscore with fraud scheme to overstate revenueComscore 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.
Read more »
Fighting SEC Over Cryptocurrency, Kik Shuts Chat AppCanadian social-media company Kik Interactive, which is fighting U.S. claims that it illegally raised capital, said it would lay off most of its staff.
Read more »
Messaging app Kik closes down as it battles SEC lawsuit over its cryptocurrency plansIn a blog post on Tuesday, Kik's CEO Ted Livingston confirmed that the company would be closing Kik to focus on Kin, its cryptocurrency business.
Read more »