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.
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