Media metrics giant Comscore pays SEC $5 million in fraud settlement

guest · Sep 24, 2019

Media metrics giant Comscore pays SEC $5 million in fraud settlement
September 24, 2019
https://techcrunch.com/2019/09/24/m...score-pays-sec-5-million-in-fraud-settlement/

Comscore, a company that’s performance metrics are widely touted in the media world, has settled with the SEC following charges of inflating its own metrics.

The company and its former CEO Serge Matta have been charged with fraud by the SEC and have agreed to pay $5 million and $700,000 respectively, in a settlement. Matta has also agreed to reimburse Comscore $2.1 million representing profits from the sale of his Comscore stock, a post on the agency’s website reveals.

The orders state that Matta and the company engaged in fraudulent behavior that overstated the company’s revenues by $50 million and made other false statements about the company’s performance.

“As the SEC orders find, Comscore and its former CEO manipulated the accounting for non-monetary and other transactions in an effort to chase revenue targets and deceive investors about the performance of Comscore’s business,” said Melissa R. Hodgman, Associate Director in the SEC’s Enforcement Division in a statement.
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SEC: SEC Charges Comscore Inc. and Former CEO with Accounting and Disclosure Fraud

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