SEC Charges Comscore Inc. and Former CEO with Accounting and Disclosure Fraud Les Hostetler | September 24, 2019 | Shenanigans | No Comments My friend V has been calling this for a while to her classes. to whit: The SEC’s orders find, among other things, that from February 2014 through February 2016, Comscore, at the direction of its former CEO Serge Matta, entered into non-monetary transactions for the purpose of improperly increasing its reported revenue. Through these transactions, Comscore and a counterparty would negotiate and agree to exchange sets of data without any cash consideration. Comscore recognized revenue on these transactions based on the fair value of the data it delivered, which had been improperly increased in order to inflate 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. This scheme enabled Comscore to artificially exceed its analysts’ consensus revenue target in seven consecutive quarters and create the illusion of smooth and steady growth in Comscore’s business. Tags:ComScoreFraud, Hmph Related Posts What Would Ad Industry Do If It Heard 22% Of Nielsen’s TV Panel Were Bots? No Comments | Dec 21, 2019 I am certain they are simply trying to protect user privacy No Comments | Oct 25, 2020 FTX and How to Lose Money No Comments | Nov 23, 2022 Digital Media Did Not Solve The Wanamaker Conundrum No Comments | Aug 15, 2019 About The Author Les Hostetler Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Comment:*Name:* Email Address:* Website: Save my name, email, and website in this browser for the next time I comment. Δ
