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Comscore and the former CEO charged with fraud / Boing Boing



Comscore is a lynchpin of online "metrics", the practice of measuring net traffic and assigning human interest and commitment to it. The SEC announced today that they are suing the company and its former CEO for fraud.

From February 2014 to February 2016, Comscore, under the direction of its former CEO Serge Matta, entered into non-monetary transactions in order to increase its incorrectly reported revenue. Through these transactions, Comscore and a counterparty would negotiate and agree to exchange data sets without cash payment. Comscore recognized revenue on these transactions based on the fair value of the data it provided and which had been increased incorrectly 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 auditors. This scheme allowed Comscore to artificially exceed analysts' consensus revenue targets for seven consecutive quarters, creating the illusion of steady growth in Comscore's business

None of the charges were about the eyeballs it reports to advertisers and publishers. It is left to our imagination whether Comscores lies only in figures that the SEC is interested in.

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Rob Beschizza

Follow Rob @beschizza on Twitter.

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