September 24, 2019 / 6:45 PM / a month ago

Comscore, ex-CEO settle SEC charges they fraudulently inflated revenue

Sept 24 (Reuters) - Comscore Inc and former Chief Executive Serge Matta agreed to pay a combined $5.7 million of fines to settle U.S. Securities and Exchange Commission charges they fraudulently schemed to overstate the marketing data company's revenue by $50 million and misled investors about its performance.

The SEC on Tuesday said Comscore agreed to pay a $5 million penalty and Matta would pay $700,000. It also said Matta would reimburse $2.1 million to Comscore, representing profits from stock sales and incentive-based pay, and agreed to a 10-year ban from serving as a public company officer or director.

Comscore and Matta did not admit or deny wrongdoing. The SEC said the alleged violations at the Reston, Virginia-based company occurred between February 2014 and February 2016.

Reporting by Jonathan Stempel in New York

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