(Reuters) - Comscore Inc (SCOR.O) 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